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Soybean Oil Cash Basis Firm to Higher

Alexandra Watts | 07.25.2023

The cash market for soybean oil was quiet once again on Tuesday, with bid/offer ranges remaining fairly wide. Basis on crude-degummed (CD) and refined, blended, and deodorized (RBD) soybean oil was firm to higher with supply still tight following reports of sold-out capacity through the third quarter. Basis on CD soybean oil into the Gulf moved up to nine cents, up from 8.25 cents previously. In Illinois, basis on CD bean oil ramped up to above five cents, while RBD was still pegged at about 17 cents.

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