It was another wild day in the market with a big volume of packer BFT trading sharply lower on a Chicago basis. Tech tallow traded lower in two cars, steady at the high end in one car. With Hurricane Ida shutting down rail traffic into the Gulf it remains a market of have and have nots – those that have not needed to sell have been able to hold out, but the volume redirected from the Gulf is massive and those having to sell are being forced to do so at lower prices. The market is trading in a wide spread, moving lower by the hour. It’s reasonable to expect prices to consolidate towards the bottom end of the range as sellers liquidate move what they have to.

Buyers in feed and biofuels sector have been pointing to high relative prices to corn and soybean oil over the last few months and have slowed their inclusion rates. The lower prices offer an opportunity to buy back into the market. 

Choice white grease traded as low as 51 FOB River today and 53 in the…