RBD Soybean Oil Trading at 11-Cent Premium to Crude Degummed, 17-Week High

Biodiesel prices continue to drift lower, reaching lows last seen in January 2022. Glycerin values appear to be bottoming and edged higher for a second consecutive week.  Soybean oil prices climbed slightly but remain in a downward trend..  Margins narrowed last week and are in the red for some RBD soybean oil users, depending on fixed costs.

Biodiesel prices have only managed to move higher in one of the past 26 weeks but with domestic demand rising 14 percent in March, based on the EPA’s monthly EMTS report, biodiesel prices might be  seeing some support. Year over year, domestic biodiesel production is down four percent.   

The average price for soybean oil increased one percent last week for RBD and 0.8 percent for crude degummed soybean oil (CDSO). RBD pricing is 1.2 percent below month ago levels while CDSO three…