CWG Prices Move Lower

CWG Prices Move Lower

Sixty trucks of choice white grease (CWG) traded lower late yesterday out of the Missouri River market. Trading was done at higher prices though the week, but the top end of the range will be harder to move next week after the significant volume at lower numbers.

There are indications that more BFT is showing up in the market, but thus far, anything offered has moved at steady prices on a Chicago basis. Strong export demand combined with a strong soybean oil market and a well-balanced domestic market has contributed to this run of an unchanged market. Through the first half of the month, Chicago packer BFT is has traded at a relative price to soybean oil of 95 percent. If this value holds, it will set a record high for October. With that stated, no one seems to be in a hurry to change direction on price in the near term, but a rapid drop in the…

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