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...
NOTE TO READERS: The Jacobsen will be taking a break for Independence Day. We will return on Monday, July 6.
Weekly Export Sales
Soybean export sales for the 2019/20 marketing year of 241.7 thousand metric tons (TMT), were 360.2 TMT below last week’s total and 63 percent below the four-week average of 660 TMT. This week’s sales were a marketing year low. New crop sales totaled 841.7 TMT, lifting total sales to 1,083.3 TMT. Combined crop year sales were seven percent below last week’s but within analyst estimates that ranged from 750 to 1,400 TMT. 2019/20 export commitments are 100 percent of the USDA revised. Export sales are seven percent below the 2018/19 crop year pace. Major purchases were reported for Mexico, Indonesia, and Egypt.
Soybean meal sales for the 2019/20 marketing year of 143 TMT…