Distiller’s corn oil (DCO) prices continued to trend lower today. Trading on an FOB basis was done out of the Midwestern markets in a range of 41-43 cts/lb FOB with IL/WI and Mo. River action topping out at 42 cts/lb today.
Trading reported from late yesterday and today had the Gulf market higher for used cooking oil (UCO) and yellow grease on Thursday, up to a high of 42 cts/lb for UCO and 40.5 cts/lb for yellow grease.
Multiple sources have indicated that there is increased competition in the Gulf market for fat and this is contributing to the run up in prices this week. However, lower bids were heard late in the day and sinking RIN market and lower interior prices may arrest the upward momentum.
The EIA released data on operable capacity and feedstock usage in the biofuels market for December 2023 on Thursday. Operable biodiesel capacity shrunk in December relative to November, down to 2.073 billion gallons from 2.079 in October and November.
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