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Bloomberg reported that the European Commission wants new deforestation rules to cover soy, beef, palm oil, wood, cocoa and coffee, along with derived products such as chocolate, leather and furniture. The plan still needs backing from EU member states and the European Parliament.
Coverage of soy and palm oil in a binding import rule could add compliance friction for EU buyers. Because the plan is not yet law, its price effect for feed markets stays modest for now.
bloomberg.comEwa Krukowska, Alberto NardelliNov 16, 2021After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
