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...
CME grain prices shifted higher across the board on Thursday. March soymeal increased by $2.60 and closed at $361.30/st. March soybeans increased by $0.0775 and settled at $12.13/bu. Furthermore, March corn rose by $0.0175, reaching $4.44/bu, and March wheat increased by $0.03 to $5.85/bu. Despite a round of technical buying today, corn, soybean, and wheat prices showed minimal gains. Corn is close to hitting three-year lows, while soybeans were at the lowest levels in over two years. However, the slowdown in shipping activity in the Red and Black Seas is creating new stress and adding upward pressure for commodities such as grains.
Weekly Ethanol Update
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