Daily Charts
RINs Move Lower with BOHO Spread
A sharp decline in soybean oil prices this week has erased the past two weeks of price appreciation. Today’s close has soybean oil futures down 7.2 percent from Friday and at their lowest level in nearly four weeks. Heating oil futures are also lower, but only 4.4 percent from Friday’s close. The more rapid decline in feedstock (soybean oil) costs relative to heating oil, has allowed the bean oil/heating oil spread (BOHO) to fall 9.5 percent to $1.30 per gallon, reaching its lowest level in 12 trading days.
The decline in the BOHO spread has taken some of the air out of recent RIN prices. The B19 RIN is down seven percent this week, while the B20 RIN has slipped just over three percent. Despite the decline, some of the biodiesel producers…
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...