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The National Biodiesel Board and stakeholders sent a letter to House leaders asking for a multiyear extension of the biodiesel and renewable diesel tax incentive. The credit was retroactively extended for 2017 but has lapsed for 2018 and beyond.
Uncertainty over the tax credit is curtailing investment and prompting some producers to cut raw material purchases, which reduces soybean oil demand. Renewal would support feedstock demand.
feedstuffs.comJacqui FatkaMar 26, 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.
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.
