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...
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The soybean complex closed with mixed results today as the March soybean contract closed 4.75 cents lower at $11.31¼ per bushel. Soybean meal prices declined $6.60 per short ton to $327.8. Soybean oil prices bucked the trend, climbing 51 ticks to 44.91 cents per pound for the March contract.
Historically tight US soybean oil inventories combined with low prices are helping support and lift values. Despite the rise in soybean oil prices, it was not enough to improve CME crush margins, which edged four cents lower on softer soybean and soybean meal prices.
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