It is my go-to model for bean oil and it appears that trend has yet to be broken as we moved this month from the 1.80's to 1.60's. Still think that Bean oil remains overpriced Vs Diesel. BOGO is back to +553 while FAME is trading at +$535 Vs ICE gasoil in Northwest Europe. However it is the BOPO @ +$550 that is telling me that Bean oil is still overpriced. Paranagua bean oil premiums last traded at -870 when soy oil futures have dropped barely 3% in the last 3 month despite still very healthy crush margins. Diesel prices dropped nearly 8% in last 3 months with heat crack >$50/Barrel.
Comments