Biodiesel Activity

Light sweet crude values bounced off lows not seen since late March and managed to close slightly higher at just under $48 per barrel. The BO-HO spread moved higher, following soybean oil, which climbed 55 basis points higher to 30.66 cents per pound on the front month contract.

Biodiesel RIN’s did not follow the BO-HO higher. Sellers marched values lower in an orderly fashion. It seemed like obligated parties might support the market at 70…