# Gulf crude-degummed soybean oil basis bumps up on increased export demand - The Jacobsen

> 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.

- Date: 2024-10-22 · published 2024-10-22T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/11148-gulf-crude-degummed-soybean-oil-basis-bumps-up-on-increased-export-demand-the
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Cottonseed Meal](https://feedsoft.ai/c/CSM.md)

## Why it matters

A firmer Gulf basis reflects tight nearby supplies and export interest, supporting US soybean oil prices and the crush margin for soybean meal.

## Read by commodity

- CSM: bullish ▲
- SBO: bullish ▲

## Sources

- thejacobsen.com: https://thejacobsen.com/2024/10/22/gulf-crude-degummed-soybean-oil-basis-bumps-up-on-increased-export-demand/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.