Two Tiered Market Developing on Premium Grades

Two Tiered Market Developing on Premium Grades

Three cars of packer BFT traded higher on a Chicago basis today. Outside of the Chicago rail corridor trading continues in the mid to upper 50’s delivered. Buyers with flexibility on location and shipping times can buy under 60 cents per pound delivered, but buyers needing a smaller quantity, e.g. 3-5 cars, at a specific time and location are paying a premium to source material. Four cars of choice white grease traded into/through the Chicago market this afternoon. 

Distiller’s corn oil prices were lower today with sellers continuing to cut prices to move material. An estimated 90 rail cars per week of material has been put back into the spot market which has driven the precipitous decline over the last week and a half. October and November trading has been non-existent while the market waits for a fixed timeline on the full reopening of the Gulf market post-Ida. The EIA estimated last week’s production at 923,000 barrels per day, up from the week prior. Distiller’s…

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