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.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
