# Pressure on US soybean oil cash basis shows no sign of abating: sources - The Jacobsen

> US soybean oil cash basis for crude/degummed and RBD oil remained under downward pressure on May 2 with minimal trading interest. Renewable diesel buyers were well covered through September and have been purchasing cheaper animal fats and waste oils instead.

- Date: 2024-05-02 · published 2024-05-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/30341-pressure-on-us-soybean-oil-cash-basis-shows-no-sign-of-abating-sources-the
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weak cash basis and reduced renewable diesel buying signal soft domestic soyoil demand, pressuring crush margins and soybean oil prices.

## Read by commodity

- SBO: bearish ▼

## Sources

- thejacobsen.com: https://thejacobsen.com/2024/05/02/pressure-on-us-soybean-oil-cash-basis-shows-no-sign-of-abating-sources/

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