Cash SBO Basis Levels Hold within Recent Ranges

Cash SBO Basis Levels Hold within Recent Ranges

Vegetable oil cash trading was quiet on Tuesday. Thinner demand for soybean oil and ongoing pressure on U.S. Renewable Identification Numbers (RINs) have kept basis levels within recent ranges. 

Even though a host of new U.S. renewable diesel (RD) production capacity is expected to start-up during the first half of 2024, interior demand for soybean oil has been muted because many RD producers are well-covered through the fourth quarter and into the first quarter of 2024. The erosion in RINs, as record biofuels production outpaces federal mandates, has caused many to worry that soybean oil demand could recede further if plants cannot capture favorable margins.

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

09.20.2024

BOHO spread reaches two-month high

BOHO spread reaches two-month high

The BOHO spread rose sharply on Friday September 20 to its highest since late July, as October soybean oil futures on the Chicago Mercantile Exchange traded higher and ultra-low-sulfur...

09.20.2024

US animal fats, oils finish week stable to higher; SBO hits monthly high

US animal fats, oils finish week stable to higher; SBO hits monthly high

The US animal fats and oils markets closed the week to Friday September 20 unchanged, with limited trade reported.

The only notable movement was in the Midwest yellow grease market,...

09.20.2024

Poultry by-product meal pet grade lower in Southeast; Sept on-feed cattle higher year on year

Poultry by-product meal pet grade lower in Southeast; Sept on-feed cattle higher year on year

US animal proteins were steady to slightly lower on Friday September 20. The only price change was on the Southeast poultry by-product meal pet grade due to increased production....

Latest Tweets