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Fuels Market News reports that the National Biodiesel Board thanked 46 Congress members for supporting a multi-year biodiesel tax incentive extension. The incentive was renewed for 2017 but expired for 2018, and the letter was sent to House leaders.
A restored tax credit would support biodiesel demand for soybean oil, which is supportive for soyoil prices.
fuelsmarketnews.comFuels Market NewsOct 4, 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.
