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...
The animal protein market witnessed higher prices on a number of selections on Wednesday, though unsettled undertones linger with the Ukraine-Russia conflict weighing on the grain markets. Ruminant meat and bonemeal was higher for several regions on tight offerings and active demand. Mid test dry rendered tankage (DRT) was up 36.4 percent on the day on accounts of limited offerings in the market and strong interest levels.
Increased volatility was witnessed on the CME agricultural board this week, some participants are hesitant to trade, especially out front. May wheat futures hit limit up early in the day, up by 75 cts/bu to $10.59/bu, May Corn futures were down 75 cts/bu to $7.25/bu and May soybeans dropped 27 cts/bu to $16.63 bu, and May soybean meal was lower by $6.30/ST to $448.00.
Actual 2021 Broiler and Turkey Slaughter Below 2020 Levels
Broiler slaughter for December was at 764.86 million head, a 0.4 percent drop from last year but a 1.9 percent…