Biomass-based diesel has been moving at a solid pace all year, indications are that it may be beyond what is currently needed given the pandemic’s impact on the transportation sector, but time will sort that out. RIN prices don’t seem to be rising in order to incentivize further production. RINs appear to be working as they are theoretically designed. They appear to be rising to offset the bean oil/heating oil (BOHO) spread that is at its highest level since April of 2016.
Feedstock (soybean oil) prices have been on a bull run this week, climbing 6.3 percent to 33.39 cents per pound. Soybean oil price is at its highest level since January. Heating oil values have held in a narrower range since mid-June, holding mostly between $1.13 to $1.25 per gallon. Soybean oil prices are 17 percent higher than they were a year ago while heating oil…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...