The Oilseed Overhang Grows
The backdrop today is still the U.S. shutdown, which has turned more combative and acrimonious—raising the odds it runs longer than first expected. D4 RINs slipped to 1.022 while Dec26 held firm at 1.07. Gasoil weakness bled into bean oil, which lost nearly 1%. In Asia, Golden Week drew opportunistic buying, with Pertamina stepping up for additional October gasoil and jet cargoes, while Taiwan’s CPC issued a rare tender to import November barrels.
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