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...
Ethanol & DDGS – Ethanol/DDGS Edges Higher, Ethanol Stocks at 182-Week Low
Ethanol production edged 7,000 barrels per day higher to a 900 million-barrel-per-day average during the week ending June 26, 2020. Ethanol and DDGS output are at its highest level since the pandemic was announced, according to the EIA’s Weekly Petroleum Status Report. Output increased 0.8 percent for the week but remains 17 percent below levels at this time last year. DDGS output was 666 metric tons over last week’s average daily output but 17,215 MT below production from a year ago.
Gasoline supply declined fractionally after jumping more than nine percent last week. Gasoline supply is 9.8 percent below 2019 levels for the same weekly period. Ethanol stocks hit a 182-week low at 20.164 million barrels. Ethanol imports were absent again during the week. The increase in ethanol production raised corn demand by 104 thousand bushels…