05.02.2024
UCO, heating oil spread widens
Yellow grease traded as low as 34 cents per lb delivered Carolinas on Thursday May 2, with additional volume heard at 36 cents per lb. Despite the decrease, offers...
Daily Charts
Biodiesel RINs Hold Following Yesterday’s BOHO Related Rally
The bean oil/heating oil (BOHO) spread jumped 11 points yesterday following a move higher in soybean oil prices and a move lower in heating oil. This triggered a rise in Biodiesel RIN values. In today’s trading, the reverse scenario played out as the BOHO fell five points due to rising heating oil and lower soybean oil values. RINs held their ground today, which is exactly what producers were hoping would happen.
Two Midwest biodiesel producers The Jacobsen spoke to said they expect production to stay strong through October and that RINs need to stay at these levels, or higher, in order for the economics of production to make sense.
Ethanol RINs saw a solid boost in price earlier in the…