NOVELTY - A biocomponent feedstock (102) comprising 25 wt.% or more triglycerides is exposed to a primary catalyst, in the presence of hydrogen to form at least partially deoxygenated effluent and catalyst comprising a supported group VI metal catalyst or a group VIII non-noble metal catalyst. The partially deoxygenated effluent is separated to form a gas phase effluent and a liquid phase effluent comprising at least 15 wt.% olefins. At least one portion of the liquid phase effluent is fractionated to form a diesel product fraction, thus the processing of biocomponent feedstock is carried out.    USE - Processing of biocomponent feedstock used to produce diesel product fraction and lubricant base oil product fraction (claimed).    ADVANTAGE - The processing method requires reduced oxygen content and provides reusable biocomponent with improved flow characteristics.    DETAILED DESCRIPTION - A feedstock comprising 25 wt.% or more triglycerides is exposed to a primary catalyst, in the presence of hydrogen under preset deoxygenating conditions to form at least partially deoxygenated effluent and catalyst comprising a supported Group VI metal catalyst or a supported Group VIII non-noble metal catalyst. The oxygen content of partially deoxygenated effluent is 40% less than the oxygen content of feedstock. The partially deoxygenated effluent is separated to form a gas phase effluent and a liquid phase effluent comprising 15 wt.% or more olefins. At least one portion of the liquid phase effluent is fractionated to form a diesel product fraction having an olefin to paraffin ratio of 0.04 or more, thus the processing of biocomponent feedstock is carried out. An INDEPENDENT CLAIM is included for distillate product with cetane rating of at least 40, and comprises 50 wt.% or more 12-18C molecules, 1 wt.% or less oxygen and 50 ppm or less sulfur, and a T95 boiling point of 370 degrees C or less.    DESCRIPTION OF DRAWING(S) - The drawing shows a schematic view of processing configuration of deoxygenating a biocomponent feed.    Biocomponent feed (102)    Surge drum (104)    Reactor (110)    Output stream (115)    Separator (122)