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US refined soybean oil prices strengthened in January **** as persistent renewable-diesel demand and healthy export activity supported seller pricing power. Prices for refined soybean oil in the United States moved higher through January as demand from biofuel and export channels outpaced modest soybean oil inventory builds. Early-month USDA revisions and steady renewable-diesel offtake helped underpin market sentiment, while crushers maintained elevated runs supported by robust crush margins. Seasonally ample harvest soybean supplies eased procurement strains, but refiners channelled volumes to Gulf Coast renewable-diesel plants, preventing soybean oil inventories from growing materially. Meanwhile, improved river barge conditions eased logistics concerns versus late-****, keeping flows to export terminals orderly and supporting bids into the close of the month.
With respect to the market side, the energy/renewable-diesel sector remained the primary demand engine, supporting refined soybean oil values as renewable-diesel plants drew on Gulf supplies. As...
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