# Soybean Industry Supports Biodiesel Industry on Capitol Hill - American Soybean Association

> 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.

- Date: 2017-06-22 · published 2017-06-22T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/70357-soybean-industry-supports-biodiesel-industry-on-capitol-hill-american-soybean
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

- SBO: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2019-01-24 | [Soy Leaders ‘Engage’ with Biodiesel Industry - American Soybean Association](https://feedsoft.ai/events/60969-soy-leaders-engage-with-biodiesel-industry-american-soybean-association.md) | +3.5% | +3.8% |
| SBO | 2017-12-19 | [10 Years of Biodiesel in the RFS - American Soybean Association](https://feedsoft.ai/events/67351-10-years-of-biodiesel-in-the-rfs-american-soybean-association.md) | +0.5% | -2.4% |
| SBO | 2018-01-25 | [Soy Growers, Industry Leaders Discuss RFS, Tax Credit at National Biodiesel Conference - American Soybean Association](https://feedsoft.ai/events/66863-soy-growers-industry-leaders-discuss-rfs-tax-credit-at-national-biodiesel.md) | +1.2% | -2.0% |
| SBO | 2019-06-14 | [Biodiesel Industry Rallies on Capitol Hill \| Red River Farm Network](https://feedsoft.ai/events/58474-biodiesel-industry-rallies-on-capitol-hill-red-river-farm-network.md) | +2.0% | +0.3% |
| SBO | 2019-12-19 | [US biodiesel and soybean industry call on President Trump to improve 2020 RFS \| Bioenergy International](https://feedsoft.ai/events/55450-us-biodiesel-and-soybean-industry-call-on-president-trump-to-improve-2020-rfs.md) | +2.8% | -0.2% |

## Sources

- soygrowers.com: https://soygrowers.com/news-releases/soybean-industry-supports-biodiesel-industry-capitol-hill/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.