RBD Soybean Oil Basis in Midwest Backs Down

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RBD Soybean Oil Basis in Midwest Backs Down

Alexandra Watts | 08.02.2023

Cash basis on crude-degummed (CD) and refined, blended, and deodorized (RBD) soybean oil in central Illinois has started to come off following talk last week that a renewable diesel (RD) producer was selling a big chunk of its soybean oil position back into the market due to operational issues and/or poor margins. Amid rising feedstock costs, margins for biodiesel and RD producers have been wading in negative ground.

The spread between CD and RBD soybean oil in Illinois continued to narrow, from 11.75 cents...

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