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The Guardian reported that the EU has proposed legal measures that would bar certain commodities from entering the bloc if they are linked to deforestation. Beef, wood, palm oil, soy, coffee and cocoa are covered, while rubber is excluded, a gap environmental groups have criticized.
A ban or due-diligence requirement on beef and soy from deforestation-linked sources could redirect supply away from the EU and weigh on soy and cattle import demand. Because the measure is still a proposal, the market impact is currently limited.
theguardian.comJennifer RankinNov 17, 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.
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.
