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...
The organic harvest in the south of the United States is progressing well. Farmers see average yields for organic corn and organic soybeans compared to robust yields for conventional grains. New crop organic corn prices in Texas range from $10.00 to $10.70, but most trading seems to be at the higher end of the spectrum. This period could likely be the lowest point of the year for organic corn prices in Texas, as consumers can purchase local crops for November and December and, in some cases, JFM.
During August and September, organic corn prices in Texas were trading as high at $12/$12.25, which incorporates the cost of shipping and the lack of corn production south of Missouri. Trucking rates are as high as $3.8 per load, which will likely increase prices on the coasts and Texas later in the year.
Just over 12-months ago, organic corn prices in the mid-West were close to $6 per…