05.02.2024
UCO, heating oil spread widens
Yellow grease traded as low as 34 cents per lb delivered Carolinas on Thursday May 2, with additional volume heard at 36 cents per lb. Despite the decrease, offers...
The market was fairly quiet today with most of the action limited to the distillers corn oil market. Trading was done as high as 64 FOB IN/OH for the 30 day and 60 day forward markets. Spot trading was quiet, but sources indicated that there is still some demand for January shipment and not a lot of supply available.
Choice white grease prices are poised to move higher in the near term on increased demand, higher prices for rail material and the potential for tighter supplies. The spread between BFT Mo. River and CWG Mo. River has been blown out over the last two months, hitting a high of 14.75 on the week ending November 12, 2021. For 2018 – 2020 the average premium for packer BFT FOB Mo. River is 3.23 cents per pound for the first quarter. Today that…