09.20.2024
BOHO spread reaches two-month high
The BOHO spread rose sharply on Friday September 20 to its highest since late July, as October soybean oil futures on the Chicago Mercantile Exchange traded higher and ultra-low-sulfur...
The US animal fats and oils markets closed the week to Friday September 20 unchanged, with limited trade reported.
The only notable movement was in the Midwest yellow grease market, where prices were discussed in a slightly lower range, along with softer bids heard in the FOB Midwest distiller’s corn oil (DCO) market. However, no trades were confirmed by the close.
“Quiet is the word of the week,” one source said. “Not seeing much of anything trade.”
The muted activity has been largely attributed to participants having well-covered positions for September, with their focus shifting towards October and November.
Market sentiment also seemed cautious as participants awaited the start of a record harvest season and faced uncertainty surrounding the implementation of new 2025 legislation, contributing to the current standstill in the market.
…