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...
Please Note – The Jacobsen will not publish an Animal Fats bulletin on Friday, January 1st. We will close trading at noon CT on Thursday, December 31st, and publish shortly after.
As expected, ethanol production fell last week with the holiday-shortened week. The EIA reported ethanol production at an average of 934,000 barrels per day, and The Jacobsen estimates distillers corn oil production at an average of 8.87 million pounds per day. Production is down 13.8 percent compared to the year prior levels and down 12.9 percent compared to the prior three-year average. The market was mostly quiet today with only a handful of yellow grease trucks reported at steady prices out of the Illinois market.
There are continued indications of significant demand and limited supply to start the new year. Used cooking oil, which is very tight has buyers bidding higher numbers to try and ensure material through…