Tidbits, Biofuels, Pigs Report, Corn Estimates, Export Sales 3/28/25
- Wright Team
- Mar 28
- 4 min read
Tidbits
The Trump administration has urged oil and biofuels producers to collaborate on a new biofuels policy to prevent political conflicts similar to those in his first term. This initiative has led to at least two meetings, including one hosted by the American Petroleum Institute. Key discussions included increasing the mandate for renewable diesel and biodiesel from 3.35 billion gallons to between 4.75 billion and 5.5 billion gallons. Ethanol blending mandates are currently capped at 15 billion gallons, with little expected growth due to stagnant gasoline demand. The groups also debated small refinery exemptions and their impact on other refiners, as well as the status of a new biomass-based diesel tax credit established under the Biden administration, with differing opinions on whether to revert to the previous blenders credit or support the new 45Z tax credit. That supported bean oil and beans yesterday.
On Wednesday, South Korea bought 68,000 mts of U.S. corn and 68,000 mts of optional origin corn, meaning at the time they are ready to move the ship to the loading port, they can go to the port with the best value. For the next two to three months, that would be the U.S.
The fourth quarter revision of the U.S. GDP growth was reported at 2.4%, up from last month’s estimate of 2.3%.
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