Bid and offer spreads continue to be reported in a very wide range on choice white grease (CWG) and distillers corn oil (DCO). Five cars of CWG traded down a half cent per pound on a Chicago basis. Bids are as low as 45 FOB today, but feed buyers are paying towards the top end of the range to secure material. A number of biodiesel buyers have stepped away from the market and this is driving some short-term pressure, but thus far most of the producers are holding fairly firm on their prices.  

The EIA reported ethanol production down to 941,000 barrels per day for last week. The trop came despite expectations for continued, increases in production. There are a few plants that are undergoing spring maintenance and it could be May before production numbers start to steadily increase…