Soybean oil rebounds against rapeseed in EU; RTFO hidden challenges for U.S. Ethanol in UK
The biodiesel and renewable diesel markets in both the U.S. and Europe experienced subdued trading activity today, largely due to ongoing May holidays across Europe and China. Despite this quiet backdrop, significant movements were noted, particularly in European soft oils, where soybean oil dramatically reversed its discount to rapeseed oil. The July flat price for soybean oil jumped by €40-€55/mt, contrasting sharply with rapeseed oil, which saw declines of €5-€10/mt. Nevertheless, with rapeseed oil readily available for June delivery at €1,065/mt and soybean oil offers scarce, rapeseed oil's apparent discount remains somewhat illusory.
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