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...
December soybean meal prices at the Chicago Mercantile Exchange are up $90/ST since August 28th. The increase of 30 percent over the last seven and a half weeks has primarily contributed to the higher prices of animal proteins worldwide.
Bovine meat and bone meal is up $20 CIF Indonesia and trading into China was steady at an average of $530. The neighboring markets continue to trade at $530 – 550 CIF.
The Australian market remains well supported by strong export demand. Values were up A$20 from last week on MBM for export and there is anticipation for higher prices to show up during the tender period next week. Feather meal trading was higher as well, again supported…