Cash basis for Gulf Coast crude-degummed soybean oil moved higher, from 7 cents at the end of June, to 8-8.5 cents most recently. Overall, the cash market has been very quiet, however. Interior supply remains tight, with the market almost sold out for the third quarter. “No one wants to take ownership at these levels and will pay when they are forced to cover,” said another source.
Refined, bleached, and deodorized (RBD) soybean oil in Illinois has been robust thanks to expectations for increased demand from the U.S. renewable diesel (RD) sector. RBD soybean oil is the preferred feedstock for many U.S. producers, particularly ones that do not have pre-treatment facilities on site at their RD plants.
Soybean oil futures in the U.S….
01.15.2025
DOE, USDA release updated GREET, CSA models
On Wednesday January 15, the US Department of Energy (DOE) released the long-awaited update to the Greenhouse Gases, Regulated Emissions and Energy Use in Transportation (GREET) model, now called...
01.15.2025
US animal fats and oils markets climb, tracking gains in vegoils, energy complex
After a relatively slow start to the week, trading in the US animal fats and oils markets gained momentum on Wednesday January 15, driven by developments in the macroeconomic...
01.15.2025
Limited trade keeps most animal protein prices flat; December NOPA crush pressures soybean meal
Limited trade volume was reported to Fastmarkets on Wednesday January 15, with most US animal protein trade prices remaining rangebound for the day, according to market sources.
The...