# ASA Applauds Introduction of Biodiesel Tax Credit Reform, Extension Act - American Soybean Association

> The American Soybean Association endorsed a bipartisan Senate bill introduced April 26 that would convert the biodiesel tax credit into a domestic production credit for three years. The ASA noted that about half of U.S. biodiesel is made from soybean oil, a byproduct of meal demand.

- Date: 2017-04-26 · published 2017-04-26T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/71380-asa-applauds-introduction-of-biodiesel-tax-credit-reform-extension-act-american
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Securing a multi-year credit would support domestic biodiesel margins and soybean oil demand, while soybean meal supply would be unaffected. The bill still needs passage, so the price effect is medium at most.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| SBO | 2017-05-11 | [Biodiesel Tax Credit Co-Sponsors Still Needed - American Soybean Association](https://feedsoft.ai/events/70867-biodiesel-tax-credit-co-sponsors-still-needed-american-soybean-association.md) | +3.4% | -0.7% |
| 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 | 2017-09-01 | [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) | -0.3% | -6.2% |
| SBO | 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) | -0.6% | -0.7% |
| SOY | 2017-05-11 | [Biodiesel Tax Credit Co-Sponsors Still Needed - American Soybean Association](https://feedsoft.ai/events/70867-biodiesel-tax-credit-co-sponsors-still-needed-american-soybean-association.md) | +1.5% | -2.5% |
| 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/asa-applauds-introduction-biodiesel-tax-credit-reform-extension-act/

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