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A law firm briefing says the EU Council adopted its negotiating position on 28 June 2022 on the draft regulation banning the import and export of linked commodities. The position covers beef, soy, palm oil, coffee, cocoa and timber along with derived products.
The briefing outlines the changes and expected next steps in the first-reading process.
The Council position signals that mandatory due diligence for soy and palm oil is likely, which could gradually tighten EU trade flows. Near-term price effects should be small because the rules are not yet in force.
hfw.comJul 6, 2022After 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.
