The US interior soybean oil cash market remains incredibly tight, with the nearby basis retaining a premium to levels for the end of the year, market sources said.
On Wednesday September 4, Fastmarkets assessed soybean oil, basis, crude-degummed, fob central Illinois at a premium of 150-250 basis points per lb to the October soy oil futures contract on the Chicago Mercantile Exchange. This was up from a premium of 75-200 basis points per lb on Tuesday.
Higher spot basis levels for September delivery compared with those for the remainder of the fourth quarter are reflective of tight stocks of both soybeans and soy oil, a market source said.
“There is a lot of uncertainty out forward with policy and mandates still lingering and [the] 45Z [tax credit],” the source said.
Soybean oil is the most widely used feedstock in the production of biomass-based diesel and renewable diesel.
…
09.18.2024
Waste plastic can improve SAF without increasing pollution, study says
Waste plastic can be used to improve sustainable aviation fuel (SAF), according to research announced on Monday September 16 by the Prairie Research Institute at the University of Illinois...
09.18.2024
US animal fats, oils prices mixed as DCO production hits 2-month low
US animal fats and oils markets saw mixed price movements on Wednesday September 18, with Gulf Coast markets firming as distillers’ corn oil (DCO) production levels dropped to a...
09.18.2024
US animal proteins prices steady; potential port strike could affect stocks, prices, sources say
US animal proteins markets were steady on Wednesday September 18.
Bloodmeal prices were reported to be flat day on day, though market sources continue to indicate underlying pressure, saying that...