Cash basis on refined (RBD) soybean oil in Illinois continued to firm on Monday, moving up to 13 cents above July soybean oil futures. RBD soybean oil indications for delivery in the third and fourth quarters were heard slightly higher at 13.5 cents and above. Basis on crude-degummed soybean oil in Illinois and the Gulf also advanced to start the week, climbing to near three cents to four cents, respectively.
The stronger basis levels were attributed to rising demand from both the food and fuels sectors. Expectations for increased U.S. renewable diesel demand in the next 30 to 60 days from new units coming online, combined with scheduled maintenance at several Midwest crush plants later this year, have been the driving forces behind the basis uptick.
Figure 1.
…
01.09.2025
Additional 45z guidance expected on January 10
Information addressing the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA) is expected to be released on Friday January 10, according to several sources speaking with...
01.09.2025
Prices for US animal fats and oils unchanged; market tightness persists
The US animal fats and oils markets were unchanged on Thursday January 9, as trade slowed following an active start to the week.
Participants continued to report stable pricing in...
01.09.2025
Averted ILA port strike eases animal protein market tension; November dog, cat food exports rise
US animal protein prices were steady on Thursday January 9. With the International Longshoremen’s Association (ILA) port strike avoided, sources expect unease to diminish to a degree. However, trade...