Risk Building For Higher Yellow Grease Prices

Risk Building For Higher Yellow Grease Prices

Yellow grease prices traded higher into the Carolinas today on tight supplies. Trading outside of the Carolinas was flat, but there is risk for higher prices in the near term. Yellow grease FOB Illinois is averaging 39.5 cents for April, which is 338 percent of the price of nearby corn. The prior three-year average for May is 336 percent. The haptoral relationship suggests prices are well balanced at the moment, but big demand and a strong soybean oil market are likely to keep relative prices well above prior year’s average. The February through April market has averaged 48 percent points over the 2018 – 2020 average. Additionally, a wide spread to choice white grease is likely to drive the market higher in the near term….

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