Corn stillage oil derivatives having values for Gardner color of 10 or less and methods for making the corn stillage oil derivatives are disclosed. In one aspect, the corn stillage oil derivative comprises a heat bleached corn stillage oil. Preferably, the heat bleached corn stillage oil has a value for Gardner color of from 4 to 8. In another aspect, the corn stillage oil derivative comprises a blown corn stillage oil. Preferably, the blown corn stillage oil has a value for Gardner color of from 5 to 8.