Cash basis for Gulf Coast crude-degummed soybean oil moved higher, from 7 cents at the end of June, to 8-8.5 cents most recently. Overall, the cash market has been very quiet, however. Interior supply remains tight, with the market almost sold out for the third quarter. “No one wants to take ownership at these levels and will pay when they are forced to cover,” said another source.
Refined, bleached, and deodorized (RBD) soybean oil in Illinois has been robust thanks to expectations for increased demand from the U.S. renewable diesel (RD) sector. RBD soybean oil is the preferred feedstock for many U.S. producers, particularly ones that do not have pre-treatment facilities on site at their RD plants.
Soybean oil futures in the U.S….
01.14.2025
EIA raises US renewable diesel output forecast for 2024-25, lowers 2025 biodiesel production outlook
The US Energy Information Administration (EIA) raised its 2024 forecast for the production of renewable diesel (RD) in the US while maintaining its 2024 biodiesel output estimate in its...
01.14.2025
DCO tracks soybean oil prices higher; fats markets unchanged
Market activity for US animal fats and oils was relatively subdued on Tuesday January 14, though sources noted a bullish sentiment in the market.
01.14.2025
USDA raises 2024/25 forecast for GCAU count, lowers feed grain use estimate
Most US animal protein prices were flat to up day on day on Tuesday January 14. Animal protein products were slow to start the week, with light volumes traded,...