Daily Charts
The bean oil/heating oil spread (BOHO) commonly referred to as the HOBO spread, received relief from falling soybean oil futures. Soybean oil futures ended the week at 32.84 cents per pound, down nearly seven percent from last week’s close but they remain 15 percent higher than they were at this time last year. Heating oil futures declined three percent for the week, but not enough to offset the soybean move. This allowed the BOHO spread to fall 10 percent to $1.29 per gallon.
The lower BOHO spread took some pressure off biodiesel RINs, which were down 8.6 percent to 74 cents for the 2020 biodiesel RIN. The 2020 ethanol RIN also moved lower, falling six percent to 47.25 cents. California’s LCFS credit remains range bound in the mid to upper $190’s where it has spent the majority of the past four…
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...