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Argentina's energy minister said the government will extend the 12.5% biodiesel blend, which was raised from 5% in June to reduce imported fuel costs. The official decree had not yet been published, and no end date was given.
A higher domestic biodiesel blend absorbs more Argentine soyoil and leaves less for export, which tightens global soyoil supply and supports prices.
fastmarkets.comJohn McGarrityAug 25, 2022After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% 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.
