Soybean biodiesel futures sink after tax credit expires

In Illinois, soybean biodiesel futures have been sinking since Jan. 1 when the $1 a gallon biodiesel blending credit expired. Prices have fallen to $3.08 per gallon, the lowest since July 2010 when prices fell to $3.04 per gallon. The premium to heating oil has also crumbled since the tax credit expired but is currently holding steady at about 15 cents per gallon.