Trading was mostly steady this afternoon with few changes reported. Choice white grease did trade in a wider range. There was significant volume indicated above today’s printed range and buyers may be paying a big risk premium to ensure coverage through the remainder of the year. Choice white remains one of the cheapest options for biodiesel production and it’s reasonable to expect demand to start to put a floor in the nearby market. December through February has historically been a period of heavier usage in biodiesel production. Looking at the monthly average from 2015 – 2019 usage of CWG was highest in April at 56 million pounds followed by December at an average of 54.8 million pounds. When looking at choice white grease as a percentage of total feedstock, January is…