**Please note – There will be no Vegetable Oil bulletin on Monday, January 1.**

Physical edible oil markets were extremely quiet on Thursday, with most offices thinly staffed ahead of the New Year’s holiday. Prices for soybean oil and other vegetable oils have been under pressure due to diminished demand from both the renewable diesel and food sectors.

Poor margins and weak renewable identification number (RIN) markets have helped to sap near-term consumption for soybean oil from the energy sector. Heading into the end of the year, there have been additional rumblings that several renewable facilities in the Midwest may be operating at reduced rates or shut.

Still, with the soybean oil-heating oil (BOHO) spread recently halting its decline and an expected uptick in demand due to the startup of new renewable diesel (RD) plants in the coming weeks could be positive for bean oil prices in early 2024.

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