# Buffeted by trade winds, soybean farmers seek tax credit renewal - Roll Call

> Soybean farmers are pushing Congress to renew the biodiesel tax credit, which lapsed and has not been restored. Lawmakers and industry backers say biodiesel is a key support for soybean demand amid China's retaliatory tariffs and African swine fever. A Commerce Department decision on tariffs on Argentine and Indonesian biodiesel imports could also come soon.

- Date: 2019-06-12 · published 2019-06-12T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/58472-buffeted-by-trade-winds-soybean-farmers-seek-tax-credit-renewal-roll-call
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Renewal of the credit would support biodiesel margins and soybean oil demand, while removing tariffs on Argentine imports would add competing supply and pressure soybean oil prices.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2024-11-13 | [Trump trade policy seen as wild card for US soybean farmers](https://feedsoft.ai/events/15167-trump-trade-policy-seen-as-wild-card-for-us-soybean-farmers.md) | -3.4% | -8.1% |
| SBO | 2024-07-31 | [Senator Marshall Leads Letter Fighting For Farmers with Biofuel Tax Credit - Senator Roger Marshall](https://feedsoft.ai/events/29358-senator-marshall-leads-letter-fighting-for-farmers-with-biofuel-tax-credit.md) | -1.9% | -2.3% |
| SBO | 2017-05-11 | [Biodiesel Tax Credit Co-Sponsors Still Needed - American Soybean Association](https://feedsoft.ai/events/70867-biodiesel-tax-credit-co-sponsors-still-needed-american-soybean-association.md) | +3.4% | -0.7% |
| SBO | 2017-03-09 | [Biodiesel Leaders Meet in Washington and Discuss RFS, Tax Credit - American Soybean Association](https://feedsoft.ai/events/71862-biodiesel-leaders-meet-in-washington-and-discuss-rfs-tax-credit-american.md) | -3.2% | -4.4% |
| SBO | 2017-04-26 | [Grassley, Cantwell Lead Group of 14 Senators to Bolster Renewable Fuels with Biodiesel Tax Credit](https://feedsoft.ai/events/71382-grassley-cantwell-lead-group-of-14-senators-to-bolster-renewable-fuels-with.md) | +2.4% | +2.4% |
| SOY | 2024-11-13 | [Trump trade policy seen as wild card for US soybean farmers](https://feedsoft.ai/events/15167-trump-trade-policy-seen-as-wild-card-for-us-soybean-farmers.md) | -0.5% | -0.8% |
| SOY | 2024-07-31 | [Senator Marshall Leads Letter Fighting For Farmers with Biofuel Tax Credit - Senator Roger Marshall](https://feedsoft.ai/events/29358-senator-marshall-leads-letter-fighting-for-farmers-with-biofuel-tax-credit.md) | +0.1% | -5.8% |
| SOY | 2017-05-11 | [Biodiesel Tax Credit Co-Sponsors Still Needed - American Soybean Association](https://feedsoft.ai/events/70867-biodiesel-tax-credit-co-sponsors-still-needed-american-soybean-association.md) | +1.5% | -2.5% |

## Sources

- rollcall.com: https://rollcall.com/2019/06/12/buffeted-by-trade-winds-soybean-farmers-seek-tax-credit-renewal/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.