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Tidbits, SAF Qualification, Wheat Marketing, Market & Rain Days Update 5/1/24

Highlights


The road map for corn ethanol and soy oil to qualify for the SAF $40 billion of subsidies was released by the Biden Administration yesterday afternoon after the CBOT closed. No-till, cover crops, and “efficient fertilization” must be documented to have shot at the bonus price for low carbon corn and beans. Ag Economist Scott Irwin from The University of Illinois summed it up this way:

"Looks to me like a pretty small number of acres would qualify for 2023 and 2024. Suspect that is exactly the way that the Biden Admin and environmental lobbies driving this bus want it.

 

I think a key question is whether you have to do all three of these things simultaneously or whether you can select from any one of the three to qualify."


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