Trading was mostly quiet to close out the week. Choice white grease and distiller’s corn oil (DCO) traded at steady prices. The soybean oil futures market collapsed following today’s USDA World Agriculture Supply and Demand Estimates (WASDE) report that forecast a big increase in soybean production and crush for the 2023/24 marketing year. July SBO futures were off 1.63 cts/lb from yesterday’s close. It’s reasonable to expect that the soybean oil market and next week’s Jacobsen Biofuels and Feedstock Conference to keep activity quiet for the first part of the week. A number of buyers have been quick to point out the widening spread between animal fats and soybean oil.

Animal fat prices continued to climb this week on most products. Chicago packer BFT traded up 0.4 percent compared to last week’s average on trading yesterday at 56.5 Chicago. Choice white grease (CWG) had the biggest week-on-week increase at 3.2 percent. Strong demand from feed and fuel buyers have helped to…