Markets Continue to Tumble on Pre-Holiday Push

Markets Continue to Tumble on Pre-Holiday Push

Six cars of packer BFT traded sharply lower on a Chicago basis late yesterday. Renderer was quiet with no official offers out in the market this afternoon. Choice white grease and yellow grease were lower on limited truck and rail availability and buyers seemingly well booked through the holiday week. 

Distillers corn oil traded in a very wide range today with the price spread a function of location, timing and shipping methods. December and January trades were done at the top end of the range for both truck and rail today, but nearby trades in trucks and rail have been done as low as 55 FOB. Strong ethanol production continues to keep the market well supplied with oil and the local truck market buyers, as indicated with grease, are well booked through the holiday. The EIA estimated ethanol production for last week at 1.060 million barrels per day. Fastmarkets estimates corn oil production back over the 10 million pounds per day mark at…

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