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The soybean oil/heating oil (BOHO) spread rose about 45% in the week to July 5, reaching its highest level since January 2 as soybean oil prices climbed to levels not seen since December 2023. RIN values have risen only about 15% so far.
Higher soybean oil costs squeeze biodiesel margins, and RINs lagging the spread may slow the response in biodiesel production, which weighs on soyoil demand support.
thejacobsen.comAlexandra WattsJul 5, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The BOHO spread jumped 45% as soyoil hit its highest since December 2023, showing the biofuel-linked rally in the week to July 5.
Soyoil rallied through July 5 to its highest since December 2023 with the BOHO spread up 45%, showing biofuel-driven momentum that carried into the July 8 move.
