Soybean Oil Basis Contained by Ample Supply, Limited Demand

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Soybean Oil Basis Contained by Ample Supply, Limited Demand

Alexandra Watts | 02.21.2024

Crude-degummed (CD) and refined, bleached, and, deodorized (RBD) soybean oil basis indications were steady to a touch firmer this week. However, very little actual trading was done, market participants said.

CD and RBD soybean oil prices have plummeted more than 50 percent from their April 2022 highs, as supply remains abundant. This was evidenced by the most recent monthly figures from the U.S. National Oilseed Processors Association (NOPA). For the third...

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