Heating oil futures dropped 2 cents per gallons to $1.85 while soybean oil futures moved 23 ticks higher to 31.82 cents per pound. Lower HO values and stronger feedstock (soybean oil) prices both work to push the bean oil/heating oil spread higher. Today’s moves lifted the BO-HO spread 4.5 cents to 49 cents per gallon.
A higher move in the BO-HO spread generally indicates a less attractive production environment, which would…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...