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 mostly fell on Friday April 26, except for May wheat, which rose by $0.01 per bushel to close at $6.03 per bushel.
May soybeans decreased by $0.0325 per bushel, settling at $11.59 per bushel, and May soymeal dropped by $3.90 per short ton to $340.00 per ton.
Meanwhile, May corn fell by $0.01 per bushel to $4.40 per bushel.
Several factors influenced the grain market this week, including persistent dry weather in the US Plains, escalating geopolitical tensions in the Middle East and the Black Sea region, and seasonal downward pressure due to planting progress across the Midwest.
Furthermore, adverse weather conditions affected several key global production regions, including Europe and Russia. The US Department of Agriculture (USDA)’s latest data on grain export inspections, export sales and crop progress data also influenced the grain market.
…