The soybean oil/heating oil (BOHO) futures price spread narrowed in the week ended Tuesday September 17, with gains in heating oil outpacing those in bean oil.

The BOHO spread was down by 6.6% week on week to $0.8437 per gallon on Tuesday, with soybean oil futures prices for the remainder of 2024 moving around $0.4000 per lb.

The October soybean oil contract closed the Tuesday session at $0.4055 per lb, up by $0.0080 per lb, or 2%, from $0.3975 per lb on Monday September 16.

In the past week, October soyoil futures were up by just 0.6%, while ultra-low-sulfur diesel (ULSD) futures increased by 3.8%, helping to exert downward pressure on the BOHO spread.

…