Cooking oil futures supported by increased online shopping deliveries

In Illinois, Bloomberg reports cooking oil futures have been supported since the start of the COVID-19 pandemic by increased demand for online shopping delivery in light of scarce UCO due to fewer restaurants remaining open and lower animal tallow supplies due to challenges at meatpacking plants. Biodiesel production is expected to increase by 3%, according to USDA estimates, with increased blending for truck transport seen as the main driver. On the other hand, ethanol production and consumption have been hit hard by the pandemic.