Vegoils commentary: Cash basis on central Illinois, Gulf soybean oil shifts higher

Vegoils commentary: Cash basis on central Illinois, Gulf soybean oil shifts higher

Alexandra Watts | 04.22.2024

US spot vegetable oil markets were very quiet on Monday April 22, although soybean oil basis indications in the Midwest and the US Gulf did shift higher.

On Monday, Fastmarkets assessed the

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at 2-3 cents per lb below May soybean oil futures on the Chicago Mercantile Exchange (CME), compared with 3-4 cents per lb below the contract on April 19.

Fastmarkets’ price assessment for

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was $0.4204-0.4304 per lb on Monday, up from $0.4038-0.4138 per lb on April 19.

Both the basis and cash price for refined, bleached and deodorized (RBD) soybean oil rose on Monday.

Fastmarkets assessed the

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