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...
Market Activity
There was some more trading at $385 for ruminant out of the Mo. River market on what was otherwise a quiet day. A load of porcine MBM traded as low as $370 out of the River market. Bean meal futures are flat through August at $309 and Midwest basis levels continue to come off. Cash basis to MBM is now around the 120 – 125% level, which has certainly gotten the attention of the buyers. The Fri/Sat cattle slaughter was a paltry 94,000 head with the weekly estimate at…