Cargill and Bunge slow down buying soy due to uncertainty around 45Z credit

In Illinois, Bloomberg reports Cargill and Bunge have slowed down buying soybeans for processing into biodiesel due to the uncertainties around the 45Z credit, the guidance is that not yet out even though it comes into effect in January, whether it would be extended before the next president is sworn in or if it will expire in 2027. As such, only 10% of biofuel feedstocks had been procured for Q1 2025 as of mid-October, compared to more 80% by that time over the past decade.