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Fastmarkets assessed Gulf crude-degummed soybean oil basis at a 450-500 point premium to December futures, up from 400 points a day earlier, with offers as high as 600 points but no business at those levels. Cottonseed oil was assessed at 50-51 cents per pound, rising with soyoil futures.
A firmer Gulf basis reflects tight nearby supplies and export interest, supporting US soybean oil prices and the crush margin for soybean meal.
thejacobsen.comAlexandra WattsOct 22, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
