Soybean oil pivoted higher, advancing 1.56 cents to 66.69 cents per pound for July delivery at the Chicago Board of Trade. Soybean oil prices hit a five-day high while heating oil values were largely unchanged. Soybean oil is up 142 percent in value from last year and today’s increase was enough to lift the bean oil/heating oil (BOHO) spread past the last two days of decline.
RINs failed to notice the increase in the BOHO spread as biodiesel RINs slipped a ½ cent in value with the 2021 RIN settling at $1.91. The market continues to seek clarity on what demand there will be from the market during 2021 and beyond. EPA has failed to deliver the 2021 RVO’s but has leaked that the next two years may look like 2020 in design.
This appears to be right out of the EPA’s 2013 playbook when RVO’s for 2013 were not delivered until August of…
01.28.2025
US animal fats and oils Gulf markets show continued price strength amid tight conditions
The US animal fats and oils markets were stable to higher on Tuesday January 28, supported by ongoing discussions of strong demand.
The Gulf Coast region has experienced...
01.28.2025
US weekly corn, soybean export inspections decline; wheat up 85%
Export inspections of US grains showed a decline for corn and soybeans, while wheat increased in the week to January 23, according to data from the USDA released on...
01.28.2025
Quiet hide market as cattle prices hit record highs
The hide market had minimal activity on Tuesday January 28, as Chinese tanners continued their Lunar New Year celebrations and global customers remained quiet, according to several hide sellers....