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Platts reported that the boho factor, the spread between soybean oil and heating oil, fell to minus 1.47 cents/gal in Texas, the first negative reading since November 2014. The spread turned negative as NYMEX ULSD settled at its highest level since February 25 while soybean oil prices slid.
A negative boho factor weakens the economics of biodiesel blending against diesel, which can reduce soybean oil demand from the biofuel sector. Soybean oil prices face pressure unless diesel strength or policy support reverses the spread.
biofuelsdigest.comMeghan SappMay 17, 2018Not enough comparable past events yet for a historical read.
Not 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.
