The Wednesday HOT TAKE

September 25

Join me for unforgettable history, engineering marvels, & island bliss this January in Panama!

This five day AgVenture includes up close and personal tours of one of the most important waterways in the world - both by land and sea as we accompany a vessel transiting the locks in addition to stops at both the original locks in operation since 1914 and the Neopanamax locks, operational since 2016.

In addition to the educational aspect, we will enjoy a day of fun in the sun aboard a private catamaran while exploring one of Panama’s most beautiful islands.

Each of the four nights we will retire to the iconic Sofitel Legend Casco Viejo in the heart of Panama City’s historic district, a UNESCO World Heritage Site dating back to the 16th century.

A detailed itinerary and additional information will be released next week. For more information, visit NoBullAgVentures.com.

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HOT Nuggets

1 | Farmers First!

Yesterday was an important day for U.S. farmers as politicians on both sides of the aisle introduced the Farmer First Fuel Incentives Act which would require the Treasury Dept to restrict eligibility of the 45Z tax credit to renewable fuels MADE ONLY FROM DOMESTICALLY SOURCED FEEDSTOCKS in addition to extending the credit until December 31, 2034 versus the current law which expires December 31, 2027.

In recent weeks and months U.S. agriculture groups like the Renewable Fuels Association, Growth Energy, National Oilseed Processors Association and countless other U.S. soy and corn groups have fighting hard in DC for legislation to ensure U.S. farmers' tax dollars are not subsidizing foreign feedstock imports. It is a long way from law but we have to start somewhere!

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2 | Two big imports

Looking back at biomass-based diesel feedstock demand for the first half of the year the past four years - it is easy to see where the growth in demand lies: tallow and used cooking oil - both of which are heavily dependent upon imports as illustrated above.

Tallow use in biomass-based diesels has increased an astounding 357% since FH 2021, alongside used cooking oil - up 151%.

While domestic feedstocks like soybean and corn oil have seen demand increase on a tonnage basis, their percentage-share of overall feedstock demand and growth relative to years past has been relatively mild compared with that of tallow and UCO.

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3 | Fair share…

…or not.

Remember, it is ultimately the US tax payers’ dollars that are subsidizing the production of biomass-based diesels (& SAF)!