Prompt basis Indications for soybean oil in central Illinois and the Gulf were steady to lower in a slow postThanksgiving trading this week. Crude-degummed soybean oil into the Gulf was pegged at 5-6 cents over the December SBO contract, down from 5.5-6.5 cents last week. Refined, bleached and deodorized (RBD) soybean oil in Illinois was steady at 11.5-12 cents. Second-quarter RBD indications were at about a penny premium.
The physical market for soybean oil has been quiet for the most part for some time amid reports of diminished demand from both the renewable diesel and food sectors. Several larger buyers reportedly covered their positions through most of the first quarter of 2024 and are not looking to add coverage until the second quarter.
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09.19.2024
SAF roadmap, collaborations announced at Bali International Airshow
At the event, coordinating minister for maritime affairs and investment Luhut Binsar Pandjaitan said he would call on Indonesian state-owned oil and gas company Pertamina to collaborate with airlines...
09.19.2024
US Gulf UCO prices edge higher; feedstock costs, REG Geismar fire create uncertainty, sources say
The US animal fats and oils markets — apart from used cooking oil (UCO) — were stable on Thursday September 19, with attention shifting toward broader macroeconomic trends.
09.19.2024
Animal protein prices steady; August cattle, hog slaughter down
US animal proteins were rangebound on Thursday September 19.
August commercial cattle, hog slaughter
Commercial cattle slaughter for August was at 2.66 million head, based on the USDA’s...