Distillers corn oil prices moved higher today, driven by strong feed and biodiesel demand and tighter supplies. Seasonal maintenance times were evidenced in today’s EIA Ethanol Production report. The estimate for the week was 881,000 barrels per day, down 2.8 percent from the prior week. Distillers corn oil production is estimated at just under 8.4 million pounds per day by The Jacobsen, down 11 percent from the prior three-year average. At these current levels, prices should start to top out and trade sideways in the near term.
Figure 1.
Table 1.
The EIA released biodiesel production and input estimates for July today. B100 production in July was estimated at 2.509 billion gallons, down from the 2.514 in June and 2.561 billion gallons in…
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