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...
Soybean Crush Central Illinois – Margin down 45% from last year
The estimated crush margin edged fractionally higher this week as increased revenue was largely offset by a rise in soybean cost. Revenue from soybean meal sales increased nearly six dollars per ton, or two percent to $291.30, while soybean oil prices increased 3.7 percent to 26.82 cents per pound in Central Illinois. The value received from oil and meal sales per bushel of soybeans crushed moved from $9.72 per bushel to $9.96 while soybean prices increased 23 cents to $8.76 per bushel. This allowed the margin to expand a penny to $1.20 per bushel. The crush margin is 45 percent below levels seen at this time last year.
The US Department of Agriculture’s (USDA) April crush data was in line with expectations from the data previously released by the National Oilseed Processors Association (NOPA) in mid-April. Per the USDA, 183.4 million…