US refined soybean oil prices moved higher in February as robust demand from renewable-diesel refiners and steady export programs tightened available supplies through the month. Early February saw soybean feedstock arrive at crushers without major disruption, allowing run-rates to stay above seasonal norms; by mid-month, timely vessel-loading windows at Gulf Coast terminals kept forward premiums intact. Late-February flows shifted inland tonnage quickly to fulfil export liftings and drew stocks toward the lower end of the five-year range, prompting sellers to lift soybean oil offers as buyers, particularly refiners and packaged-food manufacturers replenishing for Easter, competed for available barrels.
The strength was concentrated in a handful of end markets. Renewable-diesel producers were the standout, with refinery offtake roughly *.** higher year-on-year, supporting tighter merchant balances and stronger bids; packaged-foods also increased spot soybean oil buying to refill manufacturing pipelines ahead of Easter, while food-service demand...
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