04.17.2024
What is Biodiesel?
Biodiesel is a renewable fuel produced thorough the transesterification process. Transesterification is a chemical progression that converts vegetable oil, or other fats, oils and greases, into biodiesel. ...
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.
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