Rapeseed Oil Breaks Higher as Gasoil Rallies and BOGO Narrows
Global biodiesel markets opened the week with notable shifts in price spreads and product fundamentals, most visibly through a sharp contraction in the BOGO (bean oil-gasoil) spread, which has dropped to +418 $/t—one full standard deviation below recent averages. This move reflects gasoil’s 2% rally to $634/mt, tightening crush margins for biodiesel despite nominal firmness in feedstock values. While bean oil futures remain under pressure from broader vegoil weakness, they are still struggling to find support amidst heavier South American exports and a sluggish macro backdrop.
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