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Biofuel trade groups sent a June 19 letter to the House Ways and Means Committee supporting an extension of advanced biofuel tax incentives in the GREEN Act. The incentives cover biodiesel, second-generation biofuel and alternative fuel credits.
The groups say the credits would support feedstock prices and farm incomes.
Extending the biodiesel credit would sustain demand for soybean oil and other feedstocks. Passage is not yet certain, so the price effect is limited for now.
governorsbiofuelscoalition.orgJun 28, 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.
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.
