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...
Trading was flat in the MBM markets today with no changes reported. Offers were out higher by as much as $15 on the topside, but thus far trading has been sideways. The current spread between porcine and ruminant MBM is $40, $6.50 over the prior three year average for August and $9 over the prior three year average for September. The wide spread and higher soybean meal prices are suggestive of higher ruminant MBM prices in the near term. A forecast of lower cattle…