
Iowa biodiesel producers, farmers and distributors are urging Congress to renew the $1-per-gallon biodiesel tax credit, which expired in 2017. Biodiesel plants have cut production amid low fuel prices and tight margins.
Renewal of the expired credit would restore margins and allow plants to resume production, supporting soybean oil demand; continued expiry keeps crush-driven oil demand weak.
After 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.