05.15.2024
Soybean oil stocks fall with slowing April crush
The soybean crush totaled 166.034 million bushels, down by 15% from a record of 196.406 million bushels in March and down by 4% from 173.232 million bushels crushed in...
Biodiesel Margins Continue to Improve
The bean oil/heating oil spread (BOHO) measures the profitability for producing biodiesel from soybean oil. The higher the spread the more costly production. When the spread rises, RIN values generally increase to offset rising production costs. Over the past couple of weeks, the BOHO spread increased to over two dollars per gallon but pulled back last Thursday and Friday ending the week at $1.93 per gallon. 20 percent while RINs increased.
RIN prices had been rising with the BOHO spread, as the 2022 biomass-based diesel RIN climbed above $1.45 per gallon, a level not seen since last October. RIN prices also adjusted lower on Thursday and Friday, closing the week at $1.40½ per gallon
Margins have benefitted from the stronger ultra-low sulfur diesel values, commonly referred to as heating oil (HO in the BOHO spread). Soybean oil prices reached 65.98 cents per pound last week…