The soybean oil/heating oil (BOHO) futures price spread narrowed in the week to Monday October 7 amid gains in the heating oil and soybean oil markets.
The BOHO spread was down by 17.5% week on week to $0.8797 per gallon on Monday.
The December soyoil contract closed the Monday session at $0.4457 per lb, up by $0.0060 per lb, or 1.36%, from a settlement of $0.4397 per lb on Friday October 4.
Since September 30, front-month soyoil futures increased by 2.4%, while ultra-low-sulfur diesel (ULSD) futures climbed by more than 12%, and this weighed on the BOHO spread.
Soybean oil is the most heavily used feedstock in the production of biomass-based diesel (BBD), and the BOHO spread serves as a proxy to measure the profitability of producing biodiesel from soybean oil.
…
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...