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...
Trading was very quiet today with no changes reported. Sellers indicated that buyers were hard to find with soybean oil futures off sharply and RIN prices collapsing. Heating oil prices moved lower as well, further pressuring renewable margins. Sources have also indicated that the market is generally concerned over an oversupply of fuel relative to the RFS mandate and which is weighing on RIN values.
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