US cash basis indications on crude-degummed and refined, bleached and deodorized soybean oil in central Illinois were slightly mixed but still robust as of Thursday July 18.
Fastmarkets assessed soybean oil, basis, crude-degummed, fob central Illinois at a premium of 200-250 basis points per lb to the August soybean oil futures contract on the Chicago Mercantile Exchange. This was up from a premium of 50-100 basis points per lb earlier this week.
At the US Gulf, Fastmarkets assessed soybean oil, basis, crude-degummed, at a premium of 275-350 basis points per lb to the underlying soyoil futures contract, easing back slightly from a premium of 300-350 basis points per lb earlier in the week.
The August soyoil contract ended at $0.4645 per lb on Thursday, up by 24 basis points per lb, or 0.5%, from a close of $0.4621 per lb on Wednesday.
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