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The US government spending bill signed in late December 2019 reinstated the $1.00 per gallon biodiesel mixture credit through 2022, applying it retroactively to 2018 and 2019. The EIA notes past credit periods coincided with sharp increases in domestic biodiesel production and imports.
A renewed subsidy supports biodiesel and renewable diesel output, increasing demand for soybean oil and supporting soybean crush margins.
eia.govJan 28, 2020
mckeany-flavell.comBarbara BrodnitzJan 6, 2020After 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.
Not enough comparable past events yet for a historical read.
After 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.
