American Soybean Association CEO Steve Censky says new federal guidance on the 45Z biofuel tax credit could provide much-needed certainty for biodiesel and renewable diesel producers. Speaking at the Northern Corn and Soybean Expo in West Fargo, Censky said the guidance helps plants move forward after months of uncertainty. Censky also pointed to progress on trade with China and efforts to diversify export markets. “Thanks to our work and the work of North Dakota soybean growers and others, we really raised the profile so that the president said we need to get a deal with China on soybeans for our soybean farmers.” While current export commitments fall short of historical levels, Censky said new trade deals and expanded biofuel markets could reduce dependence on China and strengthen demand for U.S. soybeans.
