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Ag News
Bailout Helps Soy Biodiesel Industry
Published Monday, October 06, 2008 at 04:42 AM
American Soybean Association president John Hoffman said - enactment of the biodiesel tax credit extension represents a significant legislative achievement on a key ASA priority. The soybean producer from Waterloo, Iowa pointed out - the growth in biodiesel sales has raised soybean prices by a conservative estimate of at least two-dollars per bushel.
Hoffman pointed out that - biodiesel is an excellent way for America’s soybean growers to boost U.S. energy security, promote economic development and improve the environment. He added - this legislation will also help support the price of soybeans by creating demand for biodiesel made from soybean oil.
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