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...
Tracking gains in global crude oil markets, CME U.S. soybean oil futures moved higher on short covering. The benchmark March soy oil contract ended the Thursday session up 47 basis points per pound, or one percent, at 48.72 cents per pound.
Market participants positioned themselves ahead of the midday release of USDA’s latest monthly World Agricultural Supply and Demand Estimates (WASDE) on Friday. The agency is expected to cut its global soybean ending stock projection but raise its U.S. ending stock forecast.
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