07.05.2024
US BOHO spread rises 45%; RINs not keeping pace
The soybean oil/heating oil spread (BOHO) in the US rocketed 45% higher this week on rising soybean oil costs. The BOHO is a common metric used to gauge the...
Crude and kosher crude glycerin pricing has faced headwinds due to strong domestic biofuel production during 2024. Prices have been trading in a narrow range for most of the year. Crude glycerin has been trending lower while kosher crude prices have held steady to higher, and are widening the spread relative to crude. Kosher crude pricing has been bolstered by strong refiner margins.
One trader speaking with Fastmarkets noted that the strength in the kosher crude market comes from the refined side of the business.
“As refined [demand] has increased from the beginning of the year, there is a lot more margin available to buy (kosher) for refining,” the trader said.
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