Solid buying interest from the food and fuel industries continued to support basis levels on crude-degummed and refined, bleached, and deoderized (RBD) soybean oil this week. Crude degummed soybean oil was indicated at 5 cents delivered into the Gulf. Indications on RBD from Midwest plants were heard as low as 12 cents FOB to as high as 13.5 cents.
RBD soybean oil delivered in trucks to the East Coast for the spot and third quarter was heard between 19-22 cents. Rail indications were slightly lower than this level. Expectations for increased U.S. renewable diesel demand in the next month or two as new units coming online, combined with scheduled maintenance at several Midwest crush plants later this year, have been the driving RBD basis levels higher.
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04.29.2024
Strong domestic biodiesel margins support rising crude glycerin inventory
Crude glycerin prices are holding steady to slightly lower in the week to Monday April 29, with improved biodiesel margins helping to keep the supply of glycerin strong.
04.29.2024
Gulf tallow prices higher; optimism builds for higher demand for June
Tallow traded higher into the US Gulf market on Monday April 29, up to 41 cents per lb delivered. Outside of the Gulf market, trading was quiet with sources...
04.29.2024
Animal protein prices steady at start of the week
US animal proteins were steady on Monday April 29. Limited trade was reported, with multiple market participants are expected to attend the Petfood Forum in Kansas City, Missouri, this...