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Argentina approved a new law cutting the biodiesel blend mandate in domestic diesel in half, freeing up tens of thousands of tons of soy oil for export. Traders are assessing how much additional Argentine soyoil could reach global markets.
Argentina is the world's largest soyoil exporter, so more export availability would add supply to international markets and weigh on soyoil prices.
bloomberg.comJonathan Gilbert, Kim ChipmanJul 21, 2021After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), 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.
