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The National Biodiesel Board and the American Soybean Association wrote to President Trump asking for support for biodiesel under the RFS, relief from lost demand due to exemptions, and extension of tax incentives. The letter says the EPA's proposal offers too little room for biodiesel growth.
It also says exemptions cut biodiesel demand by at least 300 million gallons.
Lobbying for higher biodiesel volumes and tax credit extensions supports soybean oil demand if successful. Soybean farm income pressure makes the outcome relevant to soybean prices.
fuelsmarketnews.comFuels Market NewsSep 25, 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.
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.
