An already weak soybean oil market was caught off-guard by the California Air Resources Board (CARB) announcement that it was considering placing a cap of 20% on the amount of soybean oil renewable fuel producers could use, should its amendments be passed.
CARB’s proposed regulations have not been finalized. Public comment is open until August 27.
The Chicago Board of Trade’s closing price for soybean oil posted a 44-month low of 39.47 cents per lb on Thursday August 15. Prices posted a modest gain on Friday August 16, closing at 39.95 cents per lb.
Falling soybean oil prices helped lower the bean oil/heating oil (BOHO) spread to a six-month low on Thursday. The BOHO spread closed 22% lower on the week and helped ease Renewable Identification Number (RIN) prices along the way.
…
11.11.2024
Falling biodiesel margins lead to expectations for higher RINs, lower feedstock cost
Biodiesel margins continued to fall during the week ending Friday November 8, with rising feedstock cost pushing the soybean oil/heating oil (BOHO) spread to its highest level in more...
11.11.2024
DCO starts the week higher; hog slaughter increases slightly
Distillers’ corn oil (DCO) traded higher out of the FOB Midwest markets on Monday November 11 in what was otherwise a quiet market to start the week.
A...
11.11.2024
US cattle slaughter continues to fall behind 2023 levels
Trading was quiet in the US animal protein market on Monday November 11, with no price changes reported.
Cattle slaughter
Fastmarkets’ research team forecasts cattle slaughter at 625,000...