Soybean oil basis on crude-degummed and refined, bleached and deoderized (RBD) product in central Illinois and the Gulf steadied at week’s end after softening previously due to sluggishness in the demand in the prompt market. Many buyers in the food and fuel sectors have been covered for some time through the end of the third quarter and have been sitting on the sidelines in terms of coverage for the fourth quarter and the first quarter of 2024. Still, indications of rising demand could boost cash basis levels in the coming weeks, as entities start to position themselves for the final three months of the year.

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