Physical soybean oil markets remained quiet and under some additional pressure this week. In central Illinois, prompt crude-degummed soybean oil was flat at 3.5-4 cents. Indications on refined, bleached and deodorized (RBD) soybean oil in the region eased to as low as 10.5 cents this week and were last heard at 11-11.50 cents. This was down from 11-12 cents previously.
Many of the largest buyers have covered positions through some, if not all, of the first quarter of 2024, and this has left nearby soybean oil demand for renewable diesel (RD) production at lackluster levels. This, along with weak D4 Renewable Identification Numbers (RINs) prices, which have weighed on RD margins, have been keeping a lid on bean oil indications.
…
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...