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...
Organic corn prices in PA are trending higher. Merchandisers tell the Jacobsen a range of prices between $11 and $12 per bushel. Wheat prices are also elevated ahead of the feed harvest, with spot trading near $11.25. Organic soybeans are sparse and not readily available. If you are interested in buying organic soybeans in PA, you will pay anywhere from $31 to $40 per bushel. Prices CNF Montreal is offered near $1,400 per metric ton, bid near $1,100.
More Indian Beans Will Be Planted
It’s not clear if the Indian supply chain will revert to its earlier days and become a source for organic soybean imports. What does seem clear is that demand for Indian soybean oilseeds is trending higher, which will likely lead to an increase in the soybean planting area. Sources describe an increase in Indian soybean planting area by 10% in 2021, which will…