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...
Porcine blood meal traded higher today out of the Mid-Atlantic and Indiana markets. Some sellers and buyers are getting anxious with values touching as high as $1200 FOB. The prior y three average ratio to soybean meal for the IA/MO/NE porcine blood meal market in February is 225 percent. That value would translate to $960 on today’s soybean meal market. With that stated, the range has varied from a high of 322 percent in 2017 to a low of 190 percent in 181 percent in 2018. Over the last ten years the porcine blood meal market has traded higher in February relative to January at a rate of 70 percent. Succinctly put, seasonality suggests higher prices in the near term and the historical relationship…