**Note – Amanda Luhavalja will be out of the office until Thursday March 21
The bean oil/heating oil (BOHO) spread is used as a measure of profitability in the production of biodiesel and renewable diesel using soybean oil as the feedstock. A rising BOHO indicates market production of soybean oil-based biofuel is becoming more expensive. RIN prices tend to rise along with the BOHO to offset the cost and incentivize production.
The BOHO spread climbed 20% last week, closing its highest level since mid-January. Advancing soybean oil futures did most of the lifting in propelling the BOHO higher. Soybean oil futures at the Chicago Board of Trade (CBOT) closed at 49.42 cents per pound, reaching their highest level since December 2023.
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12.10.2024
September renewable diesel shipments to West Coast reach new high
September interregional shipments of biodiesel to the West Coast were down, while flows of renewable diesel (RD) to the region reached a six-month high, monthly data released on November...
12.10.2024
Gulf UCO prices continue to rise, Midwest fats remain ‘soft’
Prices for used cooking oil (UCO) delivered to the US Gulf Coast continued to climb on Tuesday December 10, even as markets softened in other regions.
Sizeable volumes...
12.10.2024
Bloodmeal prices rise with strong demand
Ruminant bloodmeal traded higher late Monday and on Tuesday December 10, up to $1,200 per short ton FOB Missouri River.
The move comes due to increased demand and...