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...
Gulf Coast crude-degummed (CD) soybean oil cash basis moved higher this week. Offers bounced up from around 7 cents at midweek, with trading reported as high as 8.5 cents delivered rail on Thursday. Market participants attributed the runup in Gulf basis to several factors, including the move from October to December bean oil futures (with a big inverse), as well as tighter supply.
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