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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09.17.2024
US glycerin prices rangebound amid market uncertainty
The US glycerin market remained rangebound in the week to Tuesday September 17, with prices for 80% crude and kosher crude glycerin steady to slightly higher. Biodiesel producers are...
09.17.2024
US animal fats and oils mostly stable; CWG edges higher on strong demand
The US animal fats and oils markets were stable to slightly higher on Tuesday September 17, with minimal trading as some sources cited “well-covered” positions for the month.
09.17.2024
US porcine, ruminant bloodmeal prices fall; USDA slightly raises forecast for GCAU count in 2024/25 [corrected]
Prices were rangebound for most items on the US animal proteins market on Tuesday September 17. The exceptions were bloodmeal in the Missouri River, Texas Panhandle and Indiana markets,...