# SBO basis firms; futures market faces sell-off - The Jacobsen

> Spot basis for central Illinois and US Gulf crude-degummed soybean oil rose on July 9, while August soyoil futures fell 4.36% to $0.4695 per lb after a second straight session of losses. Fund liquidation and profit-taking drove the futures decline.

- Date: 2024-07-09 · published 2024-07-09T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/11588-sbo-basis-firms-futures-market-faces-sell-off-the-jacobsen
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Firmer cash basis supports physical soyoil demand, but fund liquidation pressures futures and reduces the benefit of last week's rally.

## Read by commodity

- SBO: bearish ▼

## Sources

- thejacobsen.com: https://thejacobsen.com/2024/07/09/sbo-basis-firms-futures-market-faces-sell-off/

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