Bunge, Chevron JV to Build Louisiana Oilseed Processing Plant

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Bunge, Chevron JV to Build Louisiana Oilseed Processing Plant

Alexandra Watts | 03.05.2024

Prompt soybean oil basis levels and prices continued to drop this week against a background of very light trading. In central Illinois, crude-degummed soybean oil indications eased to a range of 2.5 cents to three cents FOB below the May CME soybean oil futures contract. Bids were reported as low as four cents FOB below the benchmark futures contract by midday. Basis on crude-degummed soybean oil at the Gulf also stumbled, with the latest assessments at parity to 50 points above futures. 
 
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