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EU lawmakers were in talks to further weaken the deforestation law, according to a document seen by Reuters. In its current form, the law would require importers of soy, beef, cocoa, coffee, palm oil, timber and rubber from December 30 to prove their supply chains did not contribute to deforestation.
Weaker traceability requirements would ease the cost of selling soy and palm oil into the EU, but the proposals were still under negotiation, so the price impact is uncertain.
reuters.comKate AbnettNov 7, 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.
