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 Production 70% Above Pandemic Low
Ethanol production increased 14,000 barrels to a 914 million-barrel-per-day average during the week ending July 3, 2020. Ethanol and DDGS output are at their highest level in 15 weeks and 70 percent above the pandemic low. Production is 1.6 percent more than the week prior but 13 percent below levels at this time last year. DDGS output was 1,332 metric tons per day over last week’s average, but 12,649 MT below production from a year ago.
Gasoline supply increased 2.3 percent from the prior week but is 10.4 percent below 2019 levels for the same weekly period. Ethanol stocks increased for the first time in 11 weeks, reaching 20.62 million barrels. Ethanol imports resumed after a 17-week absence. The increase in ethanol production raised corn demand by 207 thousand bushels per day. DDGS output moved with ethanol production, rising 1.6 percent for the week.
Et…