Trading was sharply lower again today despite what seems to be a stabilization in the RIN markets and trading at higher prices in the soybean oil futures market. December soybean oil futures traded higher after today’s WASDE report showed bigger than expected cuts to soybean stocks as well as lower than expected yields. RIN values were reported higher today on some vintages, but nearby feedstock/fat demand remains a big issue and the biofuel producers who are active in the market are looking for further cuts to feedstock values. Sellers looking to move material into the feed sector are competing with cash corn values that put fat in the mid-30 cts/lb range at 400 percent of the price of corn. 

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