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...
**Bob Lane was out of the office today and will return on Monday, March 4, 2024.**
U.S. soybean crushing volumes totaled 195 million bushels in January, the USDA reported on March 1 in its latest Monthly Fats & Oils report. This was down more than four percent from the 204 million bushels crushed in December 2023 but was up more than two percent from the 191 million bushels processed in January 2023. Cold and snow in various parts of the country throughout January impacted logistics and/or operations at several domestic crushing plants during the month.
Crude soybean oil produced in January was 2.29 billion pounds, down four percent from December 2023 but up two percent from January 2023. Refined U.S. soybean oil production totaled 1.59 billion pounds in January, declining seven percent on the month and eight percent on the yearly period, the report said.
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