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...
Wheat midd prices remained steady in the Minneapolis, Kansas City, and Buffalo markets. Market participants said the market is very quiet nearby due to the upcoming holiday and limited availability.
CME grain prices were mixed on Wednesday. May wheat declined $0.075, closing at $5.45/bu, and May soybeans increased $0.24, settling at $12.09/bu. In addition, May soymeal rose $8.60 to $342.50/st. while May corn dropped $0.005, reaching $4.39/bu. Soybean prices captured double-digit gains after a wave of technical buying and short covering. However, wheat prices suffered losses due to a round of technical selling and corn prices held steady but ended up closing in the red.
Weekly Ethanol Update
…