Technical tallow trades lower in US, narrowing gap to RBD
Four railcars of renderer-grade bleachable fancy tallow (BFT) traded down to 48.75 cents per lb Chicago basis on Monday...
Renewable identification numbers (RINs) have had a turbulent year. Prices have fallen more rapidly than the soybean oil/heating oil (BOHO or HOBO) spread during the first quarter of 2024, showing a disconnect with the BOHO due to the large volume of RINs generated.
RIN prices may have bottomed out during the second quarter and seemed to become more structurally sound in relation to the BOHO spread. Sources have noted that RIN prices are pressing higher moving into the third quarter, likely due to...