Illinois Soybean Oil Basis Firms in Cash Market

Author: Alexandra Watts

Illinois Soybean Oil Basis Firms in Cash Market

Alexandra Watts | 08.09.2023

Soybean oil prices in the central Illinois cash market moved slightly lower in the last week as an improving weather outlook for the Midwest growing region pressed on the CME soybean futures complex as a whole. Still, basis for Illinois crude-degummed (CD) and refined, blended, and deodorized (RBD) bean oil was firm to higher after easing earlier in the month on reports that a large U.S. renewable diesel (RD) producer was selling a big portion of its oil position b...

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