Fastmarkets price assessment for edible tallow, fob Chicago was $52.00 cents per lb on 14 railcars, steady from $52.00 cent per lb on Wednesday May 15.

On Thursday, July soybean oil futures on the Chicago Mercantile Exchange (CME) closed at $0.4452 per lb, up by 97 basis points, or 2.23%, from $0.4355 per lb on May 15.

Soybean oil futures rebounded on Thursday on technical buying after falling in the midweek on data from the National Oilseed Processors Association (NOPA) that showed US soybean crush fell to a seven-month low of 166.03 million bushels in April.

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