The Jacobsen B100 index rose in the week ending Thursday May 23 amid uncertainty in the US biodiesel market due to a combination of factors, including reduced soybean crush volumes in April, higher-than-expected fuel consumption in 2023 and the effect that Small Refinery Exemptions (SREs) will end up having on the market. Volatility is likely to remain in the near term, especially during an election year.
The bean oil/heating oil (BOHO) spread measures the profitability for producing biodiesel from soybean oil. The wider the spread, the more costly production is. Renewable Identification Number (RIN) prices generally rise in response to the increased cost, helping to incentivize additional production.
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11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...