At the cash market, bids and offers for prompt interior crude-degummed and refined, bleached, and deodorized (RBD) soybean oil were little changed to lower to start the new week. Both sides of the market are still far apart, and very few confirmed deals continue to be reported as a result. Supply remains plentiful, and demand from the renewable diesel sector is still depressed.

Bids for RBD soybean oil dropped in most locations last week. At one point, West Coast indications were heard as low as 3-4 cents delivered above the May soybean oil futures contract on the Chicago Mercantile Exchange (CME). The latest basis assessments for RBD soybean oil in central Illinois were at three to five cents above the contract. Basis was pegged at plus six cents above May soybean oil futures last week.
 

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