05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
The estimated crush margin increased four percent this week as soybean revenue streams improved faster than the cost of soybeans. Revenue from soybean meal sales increased $4.50 per ton over the week while soybean oil prices increased more than two percent. The value received from oil and meal sales per bushel of soybeans crushed moved from $9.75 per bushel to $9.92 while soybean prices increased 12 cents to $8.63 per bushel. This allowed the margin to expand four percent, or five cents to $1.29 per bushel. The crush margin is 28 percent below levels seen at this time last year.
The National Oilseed Processors Association (NOPA) reported the US soybean crush hit a new all-time high during the month of March. NOPA members crushed 181.374 million bushels of soybeans during the month easily surpassing analysts’ estimates of 175.163…