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RBD soybean oil averaged 66.40 cents per pound in central Illinois, down 1.1 cents on the week, while crude degummed soybean oil fell 1.2 cents to 56.30 cents. The RBD premium over CDSO stood at about 10.1 cents, a 13-week high, within a narrow trading range.
A wider RBD premium signals firm demand for refined oil from renewable diesel producers relative to crude degummed oil. Weekly declines in both grades point to softer soybean oil prices, although biodiesel margins remain healthy on low feedstock costs.
fastmarkets.comRobert LaneApr 19, 2023Not 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.
