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The American Soybean Association is asking state-level growers to contact U.S. House members to co-sponsor a bill extending the biodiesel tax credit for 2017-19 and shifting it from a blender's to a producer's credit. Senator Grassley has introduced a Senate version with 15 original co-sponsors.
A producer's credit would favor domestic biodiesel output over imports, which would support soybean oil demand and, through crush, add soybean meal supply. The bill's passage is uncertain, so the price effect is modest for now.
soygrowers.comMay 11, 2017After 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.
