Boho factor slips into negative territory for first time in 3.5 years

In Texas, Platts reports that the boho factor that measures the spread between soybean oil and heating oil that typically is an indicator of favorable blending economics for biodiesel when at the lower of the scale has entered into negative territory for the first time since November 2014 at minus 1.47 cents/gal. The spread went negative thanks to NYMEX ultra-low sulfur diesel settling on Wednesday at the highest level seen since February 25 while soybean oil prices simultaneously slid.