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...
Market Update
Pressure continues to be reported on DDGS for the week, even with a slight upturn on the CME grains and a steady call on corn futures. A low of $190/st ws indicated in Iowa while $195/st was the bottom end of the range for Mn/Dakotas, Indiana, Michigan, and Ohio.
CME grain pricing showed significant jumps in most grains. Soybean oil futures experienced a great gain, with a rise of 3.5 percent. Corn prices, however, were affected by the dip in crude oil, decreasing by $0.0150 to $5.92/st. Soybeans experienced an increase of $0.2975 to $13.29/st, while soymeal rose by $8.00 to $401.40/st and wheat rose by $0.1650 to $6.10/st.
Weekly Ethanol Update
Weekly ethanol production increased from last week, after remaining…