Daily Charts
Heating Oil and Soybean Oil Prices Diverge, Forcing BOHO Higher
Last week the market saw heating oil prices fall more than five percent to $1.15 per gallon, reaching a ten-week low. Soybean oil prices also moved lower, slipping nearly two percent to 32.77. This allowed the soybean oil/heating oil spread (BOHO) to push to its highest level since April of 2016. As the BOHO spread moves higher, RINs generally tend to move with the spread in order to cover the increased cost of producing biodiesel. Last week, this was reflected as biodiesel RIN values increased more than four percent. The 2020 biodiesel RIN ended the week at 73.5 cents, while the 2021 RIN closed at 69 cents.
RIN prices continued higher on Monday as soybean oil and heating oil futures…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...