Ryan Standard was out of the office today, Friday December 11^th and will return on Monday, December 14^th.

Two cars of lard traded at a steady price today into/through the Chicago market. That BFT is trading at 95  percent of the price of nearby soybean oil in mid-December is a good indication of just how tight the supply is in the market. Buyers rebuilding inventory levels in January are paying up to secure material and there is still some unfulfilled demand in the market. It’s reasonable to expect higher prices in the near term.

Figure 1.

…