The soybean oil/heating oil (BOHO) futures spread narrowed in the week to Monday August 5 amid losses in soybean oil and heating oil prices.
US recession worries triggered a freefall across most global equity and commodity markets on Monday. September soybean oil futures settled down but off session lows, ending at $0.4109 per pound on Monday, down by 59 basis points, or 1.42%, from a close of $0.4168 per lb on Friday August 2.
Week on week, the BOHO spread declined by 6.72% to a one-month low of $0.7215 per gallon. The spread reached a six-month high in early July after soybean oil futures rallied.
Soybean oil is the most widely-used feedstock in the production of biomass-based diesel, and the BOHO spread is used as a proxy to measure the profitability of producing biodiesel from soybean oil. The higher the spread, the more costly production becomes, and vice versa.
…
11.11.2024
Falling biodiesel margins lead to expectations for higher RINs, lower feedstock cost
Biodiesel margins continued to fall during the week ending Friday November 8, with rising feedstock cost pushing the soybean oil/heating oil (BOHO) spread to its highest level in more...
11.11.2024
DCO starts the week higher; hog slaughter increases slightly
Distillers’ corn oil (DCO) traded higher out of the FOB Midwest markets on Monday November 11 in what was otherwise a quiet market to start the week.
A...
11.11.2024
US cattle slaughter continues to fall behind 2023 levels
Trading was quiet in the US animal protein market on Monday November 11, with no price changes reported.
Cattle slaughter
Fastmarkets’ research team forecasts cattle slaughter at 625,000...