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...
Organic corn prices picked up at the farm remain heavy. Solid crack corn and organic whole corn imports in conjunction with old-crop carryover continue to weigh on prices. In its recent organic planting intentions survey, The Jacobsen asked the question to farmers focusing on how much of the old-crop was the ability to sell. The answer for organic corn is approximately 80%, which could mean that approximately 20% still is not sold ahead of the Q3.
This compares to approximately 90% for organic soybeans. If 20% of old-crop organic corn has yet to be priced, and import remains robust, organic corn prices will likely continue to face headwinds. New crop Q4 is currently hovering near $360 per short ton delivered. This puts mid-west prices close to $7.50 for the Q4
The search for organic chicken through online trends continues to remain…