The cash market for soybean oil and other edible oils was incredibly quiet on Tuesday May 28, with basis levels for prompt delivery fairly stable.
Market sources continued to indicate that feedstock demand from the US renewable diesel (RD) sector may be slowly ramping up following a period of diminished consumption.
Storage tanks at RD plants were said to be overflowing with feedstocks earlier this spring, according to market sources. Last week, several sources said several producers had “cleared” existing stocks and were looking for new supply.
In the last year, slower-than-expected soybean oil demand, specifically from RD producers, caused a buildup of domestic soybean oil supply that has left cash-basis levels depressed for about six months.
In the last year, soybean oil has lost market share to cheaper, low-carbon-intensive feedstocks — animal fats, oils and greases.
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01.03.2025
Imports of biodiesel, renewable diesel continued to slow during October
US Energy Information Administration (EIA) data released on Tuesday December 31 showed biodiesel and renewable diesel (RD) import volumes declined during October 2024. Biodiesel imports had fallen during five...
01.03.2025
Renderer BFT prices climb; CWG closes week lower
The US animal fats and oils markets closed the week largely stable on Friday January 3, with the exception of the choice white grease (CWG) and tallow markets.
01.03.2025
US meat meal production in November down year on year: USDA
US animal proteins prices on Friday January 3 were steady day on day.
November animal by-product production, stocks
In November, US production of feathermeal (FM) increased month on...