01/16/2025 Cash Markets, Biodiesel

esterday, soybean crush numbers were released by NOPA, and yes, we had another record bean crush. We outlined the details in yesterday afternoon’s “broker comments” section if you want to look. The Des Moines Register reported that two Iowa Biodiesel plants have shut down due to the Biden administration’s lack of 45z guidance. The $1.00-per-gallon blender tax credit expired on December 31st. Plants shutting down is never a good sign, yet how can one blame them? The 45z guidance had been promised for over a year, and we have no more ideas than we did back then on what will qualify. Now, fast forward to later yesterday afternoon. The USDA did, in fact, release some preliminary guidance. Honestly, what is the point? We have a new administration coming in on Monday, and we really have no idea what he will do with the entire Inflation Reduction Act. The agency has released a calculator to calculate their own carbon intensity score based on your county. The idea is that the Treasury Department will take the hints from USDA when releasing their final rules.