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...
Prices of corn gluten meal have decreased in the CIF NOLA barge market, Values of corn gluten feed have also declined in the Illinois, Iowa, Midwest barge, and rail markets. Market participants mentioned that the ongoing lack of demand in the market continues to put downward pressure on feed prices.
CME grain pricing had a negative trend today. May corn decreased $0.0525, falling to $4.32/bu. May wheat fell $0.115, dropping to $5.43/bu. May soybeans shifted down, with a decrease of $0.1025 and settling at $11.99/bu. Additionally, May soymeal prices were down $1.90 to $339.80/st. After a round of technical selling, wheat and soybean prices faced double-digit losses. Wheat prices decreased due to large domestic and global supplies, with U.S. exports facing challenges this marketing year. Additionally, corn prices showed a moderate setback following other grains lower.
Weekly Grain Inspections…