Prompt basis levels on crude/de-gummed soybean oil in central Illinois and the US Gulf Coast continued to move upward this week due to improved multi-sector buying interest.

On Thursday June 13, Fastmarkets assessed soybean oil, basis, crude/de-gummed, fob central Illinois at 100-150 basis points below July soybean oil futures on the Chicago Mercantile Exchange.

Since the basis and the underlying futures contract were slightly stronger, Fastmarkets’ price assessment for soybean oil, crude/de-gummed, fob central Illinois moved up to $0.4236-0.4286 per lb on Thursday, from $0.4179-0.4229 per lb on Wednesday June 12.

Fastmarkets assessed soybean oil, basis, crude/de-gummed, US Gulf at 125-200 basis points above July soy oil futures. Outright prices also advanced, with Fastmarkets’ assessment for soybean oil, crude/de-gummed, US Gulf coming in at $0.4511-0.4586 per lb on Thursday, up from $0.4429-0.4529 per lb on Wednesday.

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