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...
Concerns About Rising Inventories Continue to Pressure World Vegetable Oil Prices
World vegetable oil prices continued to move lower on Wednesday as concerns about demand and weakness in crude oil prices triggered selling. The move was not as correlated with crude oil as the end of the day prices might suggest as vegetable oil prices fell right from the opening of trading during the overnight session and the decline accelerated when crude oil started to move lower.
Soybean oil futures fell about 1 3/4 percent (July contract -47 basis points per pound) as selling across the soybean complex due to concerns about rising tensions between the United States and Chinese governments added to the pressure from the bearish fundamentals. The decline was the largest daily change in more than a week and left the most actively traded July contract back below the…