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...
Chicago Mercantile Exchange (CME) grain prices were mixed on Thursday April 25. May wheat increased by $0.0775 per bushel, closing at $6.02 per bu, while May soybeans dropped by $0.0325 per bu, settling at $11.62 per bu.
In addition, May soymeal dropped by $2.10 per short ton to $343.90 per ton, but May corn rose by $0.0325 per bu to $4.41 per bu.
Grain futures showed a decline in soybean prices following a round of technical selling. On the other hand, corn prices benefited from a round of technical buying, mostly due to a strong set of export sales data and possible planting delays.
Wheat prices continue to increase following current weather conditions in both the US Plains and Russia, which could impact production potential for both producers.
Weekly export sales — released April 25, 2024
US export sales showed an increase in soybean oil, soybean meal and corn, while wheat and soybeans decreased…