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The National Biodiesel Board urged Congress to pass a multiyear extension of the expired biodiesel and renewable diesel tax credit before the end of 2018. It cited the Brady tax package, which would keep the $1.00 per gallon credit through 2021 and then taper it to $0.033 by 2024.
Renewal of the credit would keep biodiesel margins and feedstock demand intact, supporting soybean oil prices, while failure to act leaves that demand at risk.
ncsoy.orgWritten ByDec 6, 2018After 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.
