After a period of higher prices for fats in the US — particularly bleachable fancy tallow (BFT) and choice white grease (CWG) — several buyers in the biofuel sector have moved toward crude degummed soybean oil as a substitute.
This trend has resulted in more resistance to higher prices among some buyers, but trading was done at higher levels on Wednesday July 24 in several markets.
Prices for BFT delivered into the Gulf were stable on Wednesday at 51 cents per lb, supported by price indications received at the assessed level and moderate market activity in the region.
CWG traded higher out of the Missouri River market, and yellow grease prices were steady on an FOB Midwest basis.
Used cooking oil (UCO) traded at 48.5 cents per lb delivered US Gulf, and distillers’ corn oil (DCO) was steady, trading at the previous reported price of 51.5 cents per lb.
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