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The American Soybean Association reported on November 16, 2017 that Senate tax reform leaders would not include the biodiesel tax credit. Antidumping and countervailing duties on biodiesel imports from Argentina and Indonesia were affirmed at preliminary levels, with final determinations expected in December and January.
Failure to restore the biodiesel tax credit and duties on imports shape domestic biodiesel margins and soybean oil demand, which is bearish for soyoil.
soygrowers.comNov 16, 2017After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% 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.
