Illinois crude-degummed soybean oil basis was slightly weaker at FOB levels discounted to the benchmark soybean oil futures in Chicago, which broke out of a recent range to top $0.42 per lb this week.
US renewable diesel producers have reportedly switched from running RBD to crude-degummed soybean oil, which has weighed on refining margins.
“No one is trading much RBD [soybean oil] right now unless it is a logistics-related sale,” a trader told Fastmarkets.
Recent renewable diesel margins have not been as poor as the market had anticipated given the lack of much needed guidance on the Clean Fuel Production Credit (CFPC), or 45Z.
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01.17.2025
US renewable fuel production hits all-time high; biomass-based diesel output surges to capture end of BTC
The $1-per-gallon Blenders Tax Credit (BTC) ended on December 31, 2024. Monthly US renewable fuel production hit an all-time high of 1.96 billion gallons of fuel, generating 2.31 billion...
01.17.2025
Packer BFT ticks upward; most animal fats and oil markets close the week higher
Three cars of packer-grade bleachable fancy tallow (BFT) traded higher on Friday January 17, at 47 cents per lb, Chicago basis.
Outside of this trade, the US animal...
01.17.2025
Limited trade keeps US animal protein prices flat week on week
US animal proteins prices were generally flat for the week to Friday January 17, though prior price moves from last week for meat and bonemeal, bloodmeal and poultry by-product...