Trading in the animal fats and oils market was quiet on Friday July 26; the California yellow grease market the only one to rise, with prices up to 31-32 cents per lb FOB for the Los Angeles and San Francisco markets.
Trading is typically slow on Fridays, especially in the summer months, but the trading in these typically quiet markets were halted due to reports from industry sources that a Washington Circuit Court has vacated some of the Environmental Protection Agency’s blanket denial of 2022 small refinery exemptions.
Sources said the news was the reason for soybean oil futures prices on the Chicago Board of Trade plummeting on Friday.
The news combined with the lower soybean oil prices pushed buyers out of the market while they wait for further news and confirmation of the decision.
Choice white grease (CWG) FOB Missouri River averaged 46.05 cents per lb in the week to Friday, up by 1.8% week on week.
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