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 market was fairly active today, especially for the rail market, with trading done into the Gulf and Chicago markets. Four cars of packer BFT traded down to 39.5 cts/lb Chicago basis, and four cars of choice white grease (CWG) were traded at 35 cts/lb Chicago. CWG on an FOB basis was also lower out of the Missouri River market. Tallow traded into the US Gulf market at 40 cts/lb, down a ½ cent from the last traded level.
Distiller’s corn oil (DCO) traded into the Gulf at 48 cts/lb, but was largely quiet on an FOB/truck basis today. Indications were broadly in the “mid-40’s.” The Manly, IA market was lower as well.
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