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The Iowa Legislature passed a six-year extension of the fuel tax incentive for B11 and higher biodiesel blends on June 3. Without action the incentive would have expired on June 30.
The Iowa Soybean Association also backs more state funding for biodiesel blending infrastructure.
The incentive supports biodiesel blending in Iowa, which increases demand for soybean oil as the main feedstock. The effect is regional and modest in size.
iasoybeans.comIowa Soybean AssociationJun 4, 2020After 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.
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.
