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...
Trading was again very quiet today with the only change in the market coming from the IL UCO market, down to a range of 32 – 32.5 FOB. A general lack of demand to start the year and a last traded level of 38 cts/lb into the US Gulf have pressured the FOB markets.
The EIA estimated ethanol production at 1.054 million barrels per day (b/d) for last week in today’s Weekly Petroleum Status Report. The Jacobsen estimates distiller’s corn oil (DCO) production at just over 10.001 million lbs/day for last week, slightly under the same week last year and down 0.8 percent from the week prior.
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