Distiller’s corn oil (DCO) traded higher today on the back of another day of higher soybean oil futures prices. Sources have speculated that early positioning ahead of the RVO release are driving the market higher, others have speculated that concerns over escalations in the war in Ukraine and the recent dam destruction and subsequent shipping issues are causing supply concerns.
For the week, July soybean oil futures were up over 5 cts/lb from last week and the weekly average was up 8.3 percent (as of noon CT on Friday). Fat prices were mixed with Chicago packer BFT down 0.9 percent, but Gulf trading as high as 60 cts/lb this week. UCO was higher into the Gulf as well, up 3.2 percent from last week. DCO prices FOB Mo. River were up 5.2 percent, less than the SBO increase but catching momentum higher the second half of the week.
CWG prices were mostly flat on a lack of activity tied to tight spot supply. Yellow grease was lower on late-week trading last week.
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