# US ag industry calls on Congress to extend biodiesel tax credit - Biofuels International Magazine

> 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.

- Date: 2019-05-23 · published 2019-05-23T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/58977-us-ag-industry-calls-on-congress-to-extend-biodiesel-tax-credit-biofuels
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

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.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2019-03-27 | [National Biodiesel Board urges Congress to extend biodiesel tax incentive - Biofuels International Magazine](https://feedsoft.ai/events/59978-national-biodiesel-board-urges-congress-to-extend-biodiesel-tax-incentive.md) | +1.1% | -2.5% |
| SBO | 2018-10-04 | [NBB thanks bipartisan support for biodiesel tax extension - Biofuels International Magazine](https://feedsoft.ai/events/62415-nbb-thanks-bipartisan-support-for-biodiesel-tax-extension-biofuels.md) | -2.9% | -5.1% |
| SBO | 2020-12-23 | [Brazil’s biodiesel blend rises to 13% in March - Biofuels International Magazine](https://feedsoft.ai/events/49519-brazil-s-biodiesel-blend-rises-to-13-in-march-biofuels-international-magazine.md) | +5.2% | +4.8% |
| SBO | 2021-07-20 | [Biodiesel blends in Brazil to nudge up after being cut - Biofuels International Magazine](https://feedsoft.ai/events/46143-biodiesel-blends-in-brazil-to-nudge-up-after-being-cut-biofuels-international.md) | -0.1% | -2.1% |
| SBO | 2025-03-20 | [Indonesia to fully implement B40 biodiesel - Biofuels International Magazine](https://feedsoft.ai/events/15580-indonesia-to-fully-implement-b40-biodiesel-biofuels-international-magazine.md) | +0.6% | +9.9% |
| SOY | 2018-09-21 | [NBBs bids for Trump to support Biodiesel Producers - Biofuels International Magazine](https://feedsoft.ai/events/62924-nbbs-bids-for-trump-to-support-biodiesel-producers-biofuels-international.md) | +0.6% | +1.6% |
| SOY | 2019-06-19 | [Legislation to extend biodiesel tax credit introduced \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/58675-legislation-to-extend-biodiesel-tax-credit-introduced-iowa-agribusiness-radio.md) | -1.1% | -3.4% |
| SOY | 2019-02-15 | [Iowa Soybean joins Congressional delegation calling for biodiesel tax credit \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/60469-iowa-soybean-joins-congressional-delegation-calling-for-biodiesel-tax-credit.md) | +0.7% | +0.6% |

## Sources

- biofuels-news.com: https://biofuels-news.com/news/us-ag-industry-calls-on-congress-to-extend-biodiesel-tax-credit/

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