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...
Basis on crude degummed (CD) soybean oil in central Illinois and the Gulf shifted lower yet again this week. The market is said to be awash with supply into the second quarter, and with few interested buyers, basis turned negative for product out of central Illinois.
Bids in the Gulf for CD soybean oil were reported as low as parity to March soybean oil futures on the CME, but the bulk of trading was completed around 1.5 cents above the contract. In central Illinois, prompt refined, bleached, and deodorized (RBD) soybean oil was indicated at 8.50-9 cents above March SBO futures.
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