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Minnesota soybean growers met with lawmakers in Washington to advocate for extending the biodiesel tax credit. Lawmakers reportedly agree with farmers in principle, but no legislative progress has been made.
Farmers say biodiesel uses about one-third of U.S. soybean oil production.
Without a credit extension, biodiesel demand for soybean oil stays uncertain, though no immediate change in supply or demand has occurred.
rrfn.comDon WickJun 14, 2019After 196 past neutral policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), 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.
