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Clean Fuels Alliance America and 10 national and state associations asked Congress for a one-year extension of the 40A biodiesel blenders tax credit. They cite insufficient Treasury guidance on the new 45Z clean fuel production credit, which starts in less than 60 days.
Many producers have not received the registration letters needed to claim the credit.
Continued uncertainty over the credit threatens biodiesel margins and feedstock purchases, which is bearish for soyoil demand and soybean prices.
biobased-diesel.comClean Fuels Alliance AmericaNov 14, 2024After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
