Cash market indications for corn oil, both crude and refined, and sunflower oil continued to step lower this week. Diminished demand for edible oils from the biofuels and non-biofuel industries, like the food sector, has been weighing on feedstock prices, which are down sharply on the year. Crude corn oil in the Midwest was assessed most recently in a range in the high 50 cents per pound. Refined corn oil values were indicated in the low 70 cts/lb. Since the beginning of this year, crude corn oil prices are down 10 cts/lb, or about 15 percent, and refined corn oil values are down 38 cts/lb, or 35 percent.
Figure 1.
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