Refined soybean oil prices in the US firmed through April as competing demand streams tightened merchant availability and exporters moved earlier to secure cargoes. Early-month crush runs and favorable planting weather supported steady domestic processing, but mid-month developments - notably renewable diesel capacity and front-loaded export purchases - diverted oil away from merchant channels. In April, export interest dominated trade and spot inventories at Chicago terminals trended lower. The combination of biofuel feedstock demand and proactive buying ahead of planting-season uncertainty set a firmer tone for FOB Chicago quotations. Renewable diesel and biofuel buyers were the main growth engines, with LCFS and RFS-driven feedstock purchases absorbing incremental volumes; foodservice and packaged-food manufacturers maintained routine purchases. Export demand remained robust, with buyers from Mexico, Colombia and South Korea among those front-loading shipments. The market stayed firmer, reflecting tighter merchant availability and stronger demand dynamics, with gains anticipated in May and June before seasonal easing later in the summer.
