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Iowa Soybean Association president Jeff Jorgenson testified in support of Governor Kim Reynolds' Iowa Biofuel Standard legislation before a House subcommittee and a Senate subcommittee. The bill would expand biodiesel blends such as B20 and E15 and reform biofuel tax credits.
Supporters say it would add 108 million bushels of soybean demand over five years.
A state biofuel mandate would add structural demand for soybean oil and corn for ethanol, which supports prices if it passes. Passage is not yet certain, so the effect is still prospective.
iasoybeans.comIowa Soybean AssociationFeb 18, 2021After 842 past bullish policy events, Soybean Oil 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, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.
