10 February 2010 22:40 [Source: ICIS news]
HOUSTON (ICIS news)--Massive snowfall in Washington could delay a crucial Senate vote to restore a much needed blending credit for biodiesel producers, the National Biodiesel Board (NBB) said on Wednesday.
“The blending credit that expired in December is part of the Senate jobs bill,” said the NBB’s Michael Frohlich.
“Because of the weather-related shutdowns of government offices in Washington this week, it looks like the Senate vote on the bill might not happen until next week,” Frohlich said.
Soybean oil use in the US of an estimated 7.49m tonnes for February was unchanged from January despite some reduced biodiesel production due to the loss of the $1/gal (€.73/gal) blending credit at the end of December, the US Department of Agriculture (USDA) said on Tuesday in its monthly World Agriculture Supply and Demand report.
Projected US soybean ending stocks for 2009/10 were reduced to 210m bushels, down 35m from January.
The USDA projected that 4.3bn bushels of corn would be used for ethanol production during the 2009/2010 crop year, up 100m bushels from its projection in January.
($1 = €0.73)
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