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The Iowa Legislature passed the Governor's Biofuel Access Bill, which raises the biodiesel production tax credit from 2 to 4 cents per gallon and adds retailer credits for B20 and B30 blends. The bill also expands E15 availability and infrastructure funding, and now heads to the governor.
Higher state incentives for biodiesel blends at B20 and above support in-state soybean oil demand, a modest bullish factor for soybean oil and soybeans.
iasoybeans.comIowa Soybean AssociationApr 28, 2022After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 356 past bullish policy events, SOY moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
