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The Guardian reports that US lawmakers view the EU ban on deforestation-linked goods as a benchmark. The EU says the rule will in effect prohibit imports of beef, soy, palm oil, coffee, cocoa, rubber, charcoal and paper unless origins are traced using geolocation data.
The article is dated 5 January 2023.
Possible adoption of similar rules in the US could extend traceability requirements to major soy and beef trade, adding cost pressure on supply chains. The near-term price effect is limited.
theguardian.comArthur NeslenJan 5, 2023After 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 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.
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.
