05.02.2024
UCO, heating oil spread widens
Yellow grease traded as low as 34 cents per lb delivered Carolinas on Thursday May 2, with additional volume heard at 36 cents per lb. Despite the decrease, offers...
At the cash market, indications for corn oil and cottonseed oil have been flat so far this week. Most trading for February/March has been completed, a source noted, with not much buying interest yet for the second quarter. Vegetable oil prices have plunged over the last year due to ongoing limited demand from not only the biofuels industry but also the non-biofuel sector.
Crude corn oil prices in the Midwest values are down close to 10 percent from the same time period in 2023. PBSY Mississippi Valley cottonseed oil (CSO) values are down a solid 38 percent from the corresponding year-ago period at 60.00 cents per pound FOB.
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