As US soybean oil futures prices rebounded on Thursday January 23 following a sharp sell-off at midweek, cash trading at the US vegetable oil market remained stalled.
The nearby basis on US interior and Gulf Coast crude-degummed and refined, bleached, deodorized soybean oil was still under pressure amid thin activity this week, with many market sources away from their offices attending the Clean Fuels Conference in San Diego, California.
The market appears to be stuck in “limbo,” waiting for additional direction from the administration of President Donald Trump not only on US import tariffs, but also on domestic biofuels policy and tax credits.
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