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The National Biodiesel Board and the American Soybean Association sent a letter to President Trump seeking support for biodiesel growth under the RFS and extension of tax incentives. The groups say farm income is at its lowest in more than a decade despite record soybean production.
The letter also cites the impact of small refinery exemptions.
The request seeks higher biodiesel demand for surplus soybean oil, which could support soybean oil and soybean prices. Depressed farm prices make policy support a key factor for soybean growers.
biofuels-news.comBiofuels Int @biofuelsmagSep 21, 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.
