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.
A new Life Cycle Assessment (LCA) study revealed a significant lowering of the carbon footprint associated with U.S. Soybean oil production. The study performed by Sustainable Solutions Corporation (SSC) for the United Soybean Board (USB) highlighted a 22 percent decrease in the carbon footprint of crude soybean oil.
Based on 2020/2021 harvesting yields and 2021 operations and production data, the global warming potential (GWP) profile decreased considerably for all evaluated U.S. soy commodities compared to previously reported findings published in 2015 and 2010.
The GWP for soybeans declined 19 percent, the soybean meal carbon footprint was six percent lower, and refined soybean oil (produced at co-located processing/refining cites) decreased eight percent.
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