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 declined four percent as the cost of soybeans increased at a more rapid pace than revenue streams. The value received from oil and meal sales per bushel of soybeans crushed increased from $10.54 to $10.58 per bushel while the price of soybeans pushed 10 cents higher to $9.12 per bushel. The margin narrowed six cents to $1.46 per bushel. Soybean prices are 6.7 percent higher than they were a year ago, oil values are up 10.7 percent, but meal prices are down one percent from last year. The crush margin is 16 percent below levels seen August 22, 2019.
The US Department of Agriculture’s (USDA) June crush data was in line with expectations from the data previously released by the National Oilseed Processors Association (NOPA) in mid-July. Per the USDA, 177.3 million bushels of beans were crushed during June, resulting in 2.04…