04.23.2024
Rising BOHO spread spurs RIN values higher
Despite the move higher, D4 RINs are down 2% in value from the previous week. RIN prices are receiving support from the rising bean oil/heating oil (BOHO) spread, which...
Non-GMO corn price premiums to conventional remain steady, with corn hovering near $0.25 above conventional and soybeans near $1.50 over conventional. While the export market for non-GMO soybeans remains steady, there could be a pickup in demand for non-GMO feed.
The non-GMO planting season is underway along with conventional. Non-GMO soybeans are usually planted at the same time as conventional, compared to organic which is generally delayed. Organic to the USDA Iowa, Illinois, and Indiana soybean planting reached 30%, 33%, and 17% respectively. Iowa and Illinois are ahead of the averages, while Indiana trailed.
The jump in grocery store retail sales for non-GMO animal proteins has surged and non-GMO beef sales have helped lead the charge. Non-GMO retail beef sales rose 55% year over year for the…