PRO FARMER
The recent Treasury Department decision to allow U.S.-made ethanol and other biofuels to qualify for a SAF tax credit under the IRA/Climate Bill has sparked a range of reactions from different stakeholders.
Soybean losses related to recent floods in Brazil’s southernmost state of Rio Grande do Sul were estimated at 2.71 MMT, state crop agency Emater said.
Sustainable aviation fuel (SAF) won’t be commonplace anytime soon because its production is being hindered by significant land requirements and rising costs, according to Oilprice.com.
Corn-for-ethanol use totaled 416.9 million bu. in April, well below analysts’ expectations.
Consultancy StoneX cut its Brazilian safrinha corn crop forecast by 3.9% from last month. StoneX also cut Brazil’s 2023-24 soybean crop, which has been nearly totally harvested.
The potential consequences of not renewing the USMCA include significant economic and trade disruptions, increased policy and regulatory uncertainty, weakened enforcement of labor and environmental standards.
The Fed noted, “Agricultural reports were mixed, as drought conditions eased in some districts, but farm finances/incomes remained a concern. Overall outlooks grew somewhat more pessimistic. . .
Germany and France are urging the European Union to intensify measures against the import of fraudulent biofuel, particularly from China, which uses ingredients like used cooking oil.
Higher exports of livestock and dairy, as well as increased ethanol sales largely offset reductions in grains and feeds, oilseeds and horticultural products.
President Joe Biden said if he is re-elected, he will let former President Donald Trump’s tax cuts expire. He wants big increases/changes. . .