The overall tone of the market was quiet with both buyers and sellers continuing to take a wait-and-see approach. Heating oil and crude oil prices moved higher today. Overall supply concerns tied to the ship lodged in the Suez Canal seem to be a big driver of the increases today.

Yellow grease prices did move higher into the KS/TX market. Distillers corn oil (DCO) prices were higher for the spot and forward markets and the trading range has widened. Buyers in the renewable sector appear to be engaged in some defensive buying. Higher prices are being used to keep local material local as big demand from the renewable sector has started to spread to multiple geographies. The Energy Information Administration (EIA) reported a big drop in ethanol production for…