Cash markets for US vegetable oils slowed to a halt on Tuesday December 24, with the majority of traders and sources away from their desks for the Christmas holiday.
Heading into the tail end of the year, basis indications on interior US soybean oil — both crude-degummed and refined, bleached and deodorized — remained depressed due to continued sluggishness in demand from the domestic biofuel sector.
In the final quarter of 2024, the market has been trying to gauge 2025 demand for soybean oil in the wake of the upcoming expiration of the Blenders’ Tax Credit (BTC) on December 31, 2024.
The $1-per-gallon BTC — which is applicable to all blended renewable fuels, regardless of the carbon intensity (CI) score — will be replaced by the 45Z Clean Fuel Production Tax Credit (CFPC).
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01.30.2025
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