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Brazil approved the use of imported raw materials for biodiesel production in ANP auctions, according to a federal gazette notice on Wednesday. The change applies to the 77th biodiesel auction on December 4, which will supply the first two months of 2021.
Imported soybean oil can ease Brazil's biodiesel feedstock shortage and reduce domestic soyoil prices, which lowers the cost of biodiesel. Greater imports also weaken the premium for Brazilian soyoil over Argentine supplies.
bnamericas.comNov 19, 2020After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 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.
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.
