# Biodiesel Tax Credit Co-Sponsors Still Needed - American Soybean Association

> 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.

- Date: 2017-05-11 · published 2017-05-11T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/70867-biodiesel-tax-credit-co-sponsors-still-needed-american-soybean-association
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

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.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-05-11 | [Biodiesel: Better, Cleaner, Now! - American Soybean Association](https://feedsoft.ai/events/46965-biodiesel-better-cleaner-now-american-soybean-association.md) | +3.4% | +3.7% |
| SBO | 2017-03-09 | [Biodiesel Leaders Meet in Washington and Discuss RFS, Tax Credit - American Soybean Association](https://feedsoft.ai/events/71862-biodiesel-leaders-meet-in-washington-and-discuss-rfs-tax-credit-american.md) | -3.2% | -4.4% |
| SBO | 2017-04-26 | [ASA Applauds Introduction of Biodiesel Tax Credit Reform, Extension Act - American Soybean Association](https://feedsoft.ai/events/71380-asa-applauds-introduction-of-biodiesel-tax-credit-reform-extension-act-american.md) | +2.4% | +2.4% |
| SBO | 2017-10-05 | [Strong Action Needed in Response to Potential Roll-back of Biodiesel RFS volumes - American Soybean Association](https://feedsoft.ai/events/68338-strong-action-needed-in-response-to-potential-roll-back-of-biodiesel-rfs.md) | -0.2% | +5.8% |
| SBO | 2018-10-11 | [ASA pushes for extension of biodiesel tax incentive - American Soybean Association](https://feedsoft.ai/events/62412-asa-pushes-for-extension-of-biodiesel-tax-incentive-american-soybean-association.md) | +3.2% | -1.6% |
| SOY | 2017-04-26 | [ASA Applauds Introduction of Biodiesel Tax Credit Reform, Extension Act - American Soybean Association](https://feedsoft.ai/events/71380-asa-applauds-introduction-of-biodiesel-tax-credit-reform-extension-act-american.md) | +0.4% | -0.7% |
| SOY | 2017-09-01 | [ASA Asks EPA to Increase Biodiesel RFS Volumes - American Soybean Association](https://feedsoft.ai/events/68822-asa-asks-epa-to-increase-biodiesel-rfs-volumes-american-soybean-association.md) | +2.2% | +3.4% |
| SOY | 2019-01-29 | [Biodiesel Market in EU Opens for U.S. Soybeans - American Soybean Association](https://feedsoft.ai/events/61201-biodiesel-market-in-eu-opens-for-u-s-soybeans-american-soybean-association.md) | -0.5% | -2.1% |

## Sources

- soygrowers.com: https://soygrowers.com/news-releases/biodiesel-tax-credit-co-sponsors-still-needed/?platform=hootsuite

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