Market sources reported lower bid and offer indications for nearby crude-degummed and refined, bleached, and deodorized (RBD) soybean oil in central Illinois and the Gulf. Still, buyers and sellers remained far apart this week, with little trading heard done. Sellers of crude-degummed hiked their offers for nearby material last week to no avail.
US soybean oil futures trading in Chicago ended modestly higher on Wednesday April 3, with prices supported for a second day by ongoing gains in global crude oil markets. The May soybean oil futures contract closed at $0.4885 cents per pound, up 25 basis points per lb, while the July contract ended at $0.4937 cents per lb, up 22 basis points per lb.
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