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The EU is resisting calls from some member states and industry to delay the deforestation law, according to a letter. From December 30, companies selling soy, beef, coffee, palm oil and other products into the bloc must prove their supply chains are not linked to deforestation.
Keeping the December 30 deadline raises compliance costs for soy and palm oil exporters to Europe, which could support segregated premiums and slightly reduce EU-bound demand for non-compliant supply.
reuters.comKate AbnettJul 5, 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.
After 102 past neutral policy events, Live Cattle moved a median +0.6% over 5 sessions (63% higher; middle half -0.7% to +1.2%), and +1.3% 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.
