The Iowa Soybean Association joined Iowa's congressional delegation and biodiesel groups in urging Congress to pass a multi-year extension of the biodiesel and renewable diesel tax credit. More than forty House members signed a letter of support led by Rep.
Dave Loebsack.
Growing congressional support raises the chance of credit renewal, which would lift biodiesel output and soybean oil demand, a bullish factor for soy complex prices.
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.