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Brazil's National Energy Policy Council published Resolution No. 9 on Nov. 18, permitting imported soybeans or soybean oil in biodiesel production.
The ANP will be able to include imported feedstock in auction notices, starting with the 77th auction on Dec. 4.
Access to imported feedstock should ease Brazil's biodiesel supply shortage and lower domestic soyoil prices. This reduces the pull on Brazilian soybean oil and could support an increase in imports.
biobased-diesel.comUSDA Foreign Agricultural ServiceNov 23, 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.
