Interior US refined, bleached and deodorized (RBD) soybean oil basis levels were little changed to firmer, as sellers did try to push offers higher in the week to Wednesday February 12, trading sources reported.
The basis on central Illinois RBD soyoil widened to a premium of 100-300 points FOB to March soybean oil futures in Chicago, compared with a premium of 150-200 points to the underlying futures contract a week earlier.
“It feels like the industry is hitting the snooze button each morning. It’s quiet, and cash is relatively unchanged. Although we’ve seen some folks attempt to increase basis slightly due to poor crush margins,” one trading source said.
Central Illinois RBD soybean oil basis offers were heard as high as 400 points above March futures.
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