Soybean Oil Cash Markets Remain under Pressure

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Soybean Oil Cash Markets Remain under Pressure

The cash market for soybean oil and other feedstocks remained sluggish on Thursday, as participants attempt to gauge upcoming demand during the first and second quarters of 2024, particularly from the biofuels sector. 

Diminished biofuel consumption of low CI feedstocks has been leaning on basis levels and values. However, many participants expect that the startup of new renewable diesel (RD) plants in the coming months should lift consumption and be supportive for prices.

Soybean oil futures in Chicago were down today, as...

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