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...
Ten cars of edible tallow traded down a ½ cent per pound today at 54.5 cts/lb Chicago and ten cars of technical tallow traded higher, up to 51.5 cts/lb Chicago.
Outside of the tallow market, it was a very quiet market with mostly sideways indications. Distiller’s corn oil (DCO) trading was done higher out of the Mo. River market, up to 47 cts/lb FOB.
Indications in the Gulf market remain steady for tallow, used cooking oil, grease and DCO.
Sources indicated that DCO offers are starting to firm and last week’s jump in the soybean oil market has contributed strength to the market. While the soybean oil market did trade sharply lower on Friday and again yesterday, today’s close is up over 2.5 cts/lb compared to last Monday’s open.
…