The nearby US soybean oil cash market is still extremely short on supply, and basis indications and prices for crude-degummed and refined, bleached and deodorized (RBD) soybean oil remain inverted through year’s end, market sources said.
“A lot of suppliers remain extremely tight ahead of the new crop. As we get into the fourth quarter, soybean oil values are under an extreme amount of pressure,” a market source said.
Soyoil basis indications for the first quarter of 2025 are a “wild card,” according to sources, due to the perception that domestic consumption of the feedstock from the biofuels sector could be lower than originally expected.
Soybean oil is the most widely used feedstock in the production of biomass-based diesel and renewable diesel. But in the last several months, some biofuels producers shifted toward cheaper feedstock alternatives.
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11.26.2024
Biomass-based diesel market quiet ahead of US holiday
Biomass-based diesel markets were quiet on Tuesday November 26 ahead of the US Thanksgiving holiday.
Biofuel markets in general have slowed ahead of the implementation of the Clean...
11.26.2024
BFT prices climb as some DCO markets trend lower
Bleachable fancy tallow (BFT) prices rose again on Tuesday November 26 during another relatively quiet trade session while the market slows ahead of the Thanksgiving holiday in the US.
11.26.2024
Sluggish trade ahead of Thanksgiving; October broiler slaughter well above 2023
Trade values below the current ranges were indicated on meat and bonemeal, although reported trades were still rangebound on the day.
Fastmarkets assessed the price of poultry by-product...