Breaking News-RTRS-Mid-April is earliest to renew US biodiesel credit

WASHINGTON, March 22 (Reuters) - Congress is unlikely to revive the $1 a gallon biodiesel tax credit before mid-April the earliest, till after a two-week recess, U.S. biofuels officials said on Monday.
The credit expired at the end of 2009 and virtually shut down the industry, says the American Soybean Association. Roughly 11 percent of U.S. soybean oil is used in making the biofuel, which is a bolster for soybean prices.