Soybean Farmers Appreciate Nixon’s Step Toward Repaying Debt

The Missouri Soybean Association thanks Gov.Nixon for releasing partial biodiesel fund repayment

Missouri’s soybean farmers and the Missouri Soybean Association (MSA) commend Governor Nixon for taking a step toward fulfilling his commitment to farmers. This morning, October 21, Governor Nixon’s office announced the release of $3 million to pay down the $9.6 million currently owed to Missouri farmers who invested in the renewable fuel a decade or more ago through the Missouri Qualified Biodiesel Producer Incentive Fund.

“Biodiesel is an important driver for the soybean market in Missouri, as well as on the national and global levels,” Missouri Soybean Association President Matt McCrate said. “Missouri is a top state for biodiesel production, and benefits greatly from the renewable fuel’s economic and environmental contributions. We appreciate the support of those benefits from our elected leaders, as well as their efforts to make good on commitments to repay that outstanding debt.”

The Missouri Soybean Association’s top legislative priority during the 2016 session was securing the completion of deferred payments within the Missouri Qualified Biodiesel Producer Incentive Fund. That repayment was recommended by Governor Nixon in his 2016 State of the State address and included in HB 2006. The bill was passed during the spring session and signed by Gov. Nixon May 6. However, Gov. Nixon withheld those funds this summer and earlier this fall.

To learn more about how the Missouri Soybean Association works to increase the profitability of Missouri soybean farmers through advocacy and education efforts across the state, and join the Association, visit mosoy.org.