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...
Animal protein prices traded broadly higher today with stronger demand seen in a number of markets. Ruminant MBM prices were up as much as $17.50 from the last traded level today. Stronger soybean meal prices, good export demand and tighter cattle slaughter have all contributed to the upswing. Material was indicated as high as $240 out of the Midwestern market, but the bulk of action was within today’s printed range. The higher indications are a sign of a firm market with some sellers seeing tight, nearby positions.
Trading into Indonesia has been indicated as high as $495 CIF by non-US sellers, which would be very bullish for the nearby, ruminant MBM market. At an average of $187.50 FOB Missouri River and Texas Panhandle, ruminant MBM…