Basis Levels on SBO Continue to Creep Higher

Basis Levels on SBO Continue to Creep Higher

Solid buying interest from the food and fuel industries continued to support basis levels on crude-degummed and refined, bleached, and deoderized (RBD) soybean oil this week. Crude degummed soybean oil was indicated at 5 cents delivered into the Gulf. Indications on RBD from Midwest plants were heard as low as 12 cents FOB to as high as 13.5 cents. 

RBD soybean oil delivered in trucks to the East Coast for the spot and third quarter was heard between 19-22 cents. Rail indications were slightly lower than this level. Expectations for increased U.S. renewable diesel demand in the next month or two as new units coming online, combined with scheduled maintenance at several Midwest crush plants later this year, have been the driving RBD basis levels higher. 

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

06.06.2023

Higher SBO Market Sparks Boost in Offer Prices

Higher SBO Market Sparks Boost in Offer Prices

Distiller’s corn oil traded at 55 del Manly, IA for the nearby market and in a range for July and August today. There were offers to sell as high...

06.06.2023

Minnesota Clears the Way for Hemp-Derived Cannabinoid Markets

Minnesota Clears the Way for Hemp-Derived Cannabinoid Markets

Minnesota is rolling out new cannabis legislation that creates a pathway for select intoxicating hemp-derived cannabinoids.  The state has also followed New...

06.06.2023

Pasture and Range Conditions Improve for Most States

Pasture and Range Conditions Improve for Most States

Animal proteins were mixed for Tuesday, with unsettled undertones present in poultry items. Communication of a have-have-not spread has led to irregular ranges on all regions for poultry-by and...

Latest Tweets

Twitter feed is not available at the moment.