Loading…
Thirteen US agriculture groups, including the American Soybean Association and American Farm Bureau Federation, asked Congress to extend the biodiesel tax incentive. The letter says farm incomes are falling and that the incentive has bipartisan support.
Extending the biodiesel tax credit would sustain demand for soybean oil and rendered fats, which supports soybean prices. Congressional action is still uncertain, so the effect is not yet firm.
biofuels-news.comBiofuels Int @biofuelsmagMay 23, 2019After 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.
