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The EU Council reiterated its support for a targeted amendment that would postpone the EU Deforestation Regulation's application date by 12 months, from 30 December 2024. The amendment must be adopted, signed and published in the Official Journal before 30 December to take effect.
The regulation covers cattle, wood, cocoa, soy, palm oil, coffee, rubber and some derived products.
The delay removes near-term compliance pressure on soy and palm oil exporters to the EU, so it has limited immediate price effect while the rules remain in place with a later start date.
consilium.europa.euNov 20, 2024After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
