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Vegoils commentary: central Illinois soyoil basis slips

Alexandra Watts | 04.23.2024

Fastmarkets assessed the

Membership required to view content. at $0.020-0.035 per lb below May soybean oil futures on the Chicago Mercantile Exchange (CME) on Tuesday, down from $0.02-0.03 per lb below the contract on April 22.

The move in basis countered a slight uptick in futures prices on Tuesday. Fastmarkets’ price assessment for

Membership required to view content. was $0.4181-0.4331 per lb, widening from $0.4204-0.4304 per lb on April 22.

CME May soybean oil futures ended the day at $0.4531 per lb, up by 27 basis points per lb or 0.6%, and July soybean oil futures closed at $0.4588 per lb, up by 22 basis points per lb or 0.5%.

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