Refined soybean oil traded higher in March as tight availability and competing demand supported firmer bids in Chicago. Early-month logistics bottlenecks limited arrivals to crushing hubs, keeping crush supplies tight, while mid-month policy moves and export activity renewed buying interest. The Environmental Protection Agency's Renewable Fuel Standard prompted renewable diesel refiners to secure additional feedstock, and robust export demand from Mexico and South Korea helped move cargoes. Late-month CBOT strength added pressure on local offers as buyers sought prompt loads. The price dynamic reflected demand-driven upside, with renewables-related buying and targeted degummed oil purchases underpinning higher domestic bids, while export buyers remained active. Food-manufacturing restocking and a narrowing palm-oil discount provided further support, signaling a tightening backdrop for nearby supplies. March prices were up roughly eighteen percent from February, underscoring the momentum. Looking ahead, the outlook remains mixed but biased higher, with forecast gains in April and May before a moderation later in the season.
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.
