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...
Market Activity
Ruminant blood meal prices moved higher this week, but have stalled relative to the porcine blood meal market. Demand continues as production remains very tight, but the threat of reformulations have tempered the upside. The relative price to nearby soybean meal for the month of April is 327 percent, 66 points over the prior three year average. Since 2017, relative prices near the 340 percent market have initiated reformulations which have dramatically sent the market lower. In 2017, prices averaged 339 percent of the price of nearby soybean meal in February and March before falling to 285…