In Missouri, Brownfield reported that the new deputy executive director of the Missouri Soybean Association said the key to increasing farmer profitability is growing soybean demand.
Casey Wasser noted that Missouri farmers are uniquely positioned to benefit from expanded use of biofuels, according to the report.
“If you look on a state level, Missouri soybean is very lucky to have four biodiesel facilities that are also co-located with crush facilities. We’re going to continue to try to build demand for that biodiesel,” he said.
However, he added the recently announced 45Z biofuels tax credit poses challenges to that potential growth.
“We know that we need to be the voice for soybean oil as a feedstock specifically,” he said. “And of course just the overall difference in value between soybean oil and other feedstocks in the 45Z tax credit. We need to make sure that our farmers are seeing the financial benefit of the biofuel demand that we created years and years ago in this state.”
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