# Soybean Demand Drops as US Biofuel Tax Credit Stalls - TT

> Agribusiness firms Cargill and Bunge are slowing soybean purchases because of uncertainty over US biofuel policy. The lack of Treasury guidance on the clean fuel production credit (45Z) has led biofuel producers to postpone soyoil purchases for early next year. By mid-October, fuel retailers had procured only about 10% of their Q1 biodiesel, versus more than 80% at that point in a typical year.

- Date: 2024-10-29 · published 2024-10-29T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/15173-soybean-demand-drops-as-us-biofuel-tax-credit-stalls-tt
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weaker soyoil and soybean buying from biofuel users and crushers reduces demand for soybeans and soyoil, which pressures prices unless the tax guidance arrives and restores demand.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-10-15 | [Soybean oil prices fall amid new US biofuel proposals](https://feedsoft.ai/events/510-soybean-oil-prices-fall-amid-new-us-biofuel-proposals.md) | -1.4% | — |
| SOY | 2024-11-14 | [Clean Fuels, soy growers urge Congress to extend biodiesel tax credit](https://feedsoft.ai/events/15172-clean-fuels-soy-growers-urge-congress-to-extend-biodiesel-tax-credit.md) | -1.4% | -0.8% |
| SOY | 2024-10-28 | [Cargill, Bunge Slow Soybean Buying on Stalled US Biofuels Policy - Bloomberg](https://feedsoft.ai/events/27949-cargill-bunge-slow-soybean-buying-on-stalled-us-biofuels-policy-bloomberg.md) | -0.5% | -0.4% |
| SOY | 2025-10-07 | [Federal Biofuel Policies Likely To Drive Demand For U.S. Corn, Soybeans - Michigan Advanced Biofuels Coalition](https://feedsoft.ai/events/15081-federal-biofuel-policies-likely-to-drive-demand-for-u-s-corn-soybeans-michigan.md) | -1.0% | +10.0% |
| SOY | 2026-01-30 | [Biofuels policy uncertainty continues to pressure soybean demand and prices - Brownfield Ag News](https://feedsoft.ai/events/15056-biofuels-policy-uncertainty-continues-to-pressure-soybean-demand-and-prices.md) | +3.7% | +7.9% |
| SBO | 2026-10-15 | [Soybean oil prices fall amid new US biofuel proposals](https://feedsoft.ai/events/510-soybean-oil-prices-fall-amid-new-us-biofuel-proposals.md) | +1.8% | — |
| SBO | 2017-11-16 | [Issue Update: Biodiesel Tax Credit, RFS and Trade Case - American Soybean Association](https://feedsoft.ai/events/67845-issue-update-biodiesel-tax-credit-rfs-and-trade-case-american-soybean.md) | -2.0% | -5.0% |
| SBO | 2024-11-14 | [Clean Fuels, soy growers urge Congress to extend biodiesel tax credit](https://feedsoft.ai/events/15172-clean-fuels-soy-growers-urge-congress-to-extend-biodiesel-tax-credit.md) | -3.9% | -7.1% |

## Sources

- ttnews.com: https://www.ttnews.com/articles/soybean-demand-drops

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.