The refined, bleached and deodorized (RBD) soybean oil basis is falling this week as refiners are grappling with declining forward demand.
“It’s been super quiet leading up to [Thanksgiving] and even more so today. It feels like most of the end users are covered [in their buying] through March, which has some of the refiners nervous about extended supply based upon forward biofuel policy, etc…,” a vegetable oil trader said.
Biodiesel producers have slowed or stopped purchasing feedstock ahead of the shift from the blenders tax credit (BTC) to the 45Z Clean Fuel Production Credit (CFPC), Fastmarkets has heard.
…
12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...