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Fastmarkets raised its assessment of crude degummed soybean oil in central Illinois to $0.4236-0.4286 per lb on June 13, from $0.4179-0.4229 on June 12. Gulf Coast prices also rose on improved multi-sector buying interest.
The move reflects stronger basis levels and firmer futures.
Stronger buying interest and firmer basis levels lift cash soybean oil prices, which supports the value of crushed meal and oil.
thejacobsen.comAlexandra WattsJun 13, 2024Not 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.
