Biodiesel margins have significantly improved in the US over the past two weeks as soybean oil futures declined and prices for renewable identification numbers (RINs) increased. But several biodiesel producers told Fastmarkets they are slowing discretionary blending due to the lapsing $1-per-gallon blenders tax credit (BTC), which lapses in December.
The clean fuel production credit (CFPC) is set to replace the BTC on January 1, 2025, but the information needed to price the CFPC has not been made available yet.
The market is going to have to find a way to make up the $1-per-gallon BTC, which is integral to margins, Fastmarkets understands.
A producer told Fastmarkets that, despite recently improved margins, the loss of the BTC leaves biodiesel margins at negative $0.55 per gallon.
…
10.21.2024
US Supreme Court agrees to hear issue on Small Refinery Exemptions venue
Biofuel groups Growth Energy and the Renewable Fuels Association (RFA) both praised on Monday October 21 the US Supreme Court’s decision to grant certiorari on petitions relating to the...
10.21.2024
US fats markets quiet; cattle slaughter set to decline by end of November
The US fats market was quiet on Monday October 21, with no changes to start the new week.
In other news, Fastmarkets’ research team forecast cattle slaughter at...
10.21.2024
Animal protein prices flat on limited trading
Trading was mostly quiet in the US animal protein market on Monday October 21 with minimal changes reported. Several market participants are attending the North American Rendering Association (NARA)...