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The American Soybean Association and National Biodiesel Board pushed lawmakers to cosponsor bills (S. 944 and HR 2383) that would extend and restructure the biodiesel tax credit.
The EPA's proposed 2018-19 Renewable Fuel Standard volumes were expected imminently, and the groups backed 2.75 billion gallons of biomass-based diesel for 2019.
Biodiesel tax credit and RFS volume policy determine soybean oil demand for biofuel, which in turn affects soybean crush and the meal co-product supply. Lobbying progress alone is a modest signal for prices until legislation or EPA numbers are final.
soygrowers.comJun 22, 2017After 196 past neutral policy events, SBO moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), 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.
