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Brazil's National Energy Policy Council said on November 18 that imported raw materials may be used to produce biodiesel, ending the requirement that auction biofuel be made from Brazilian oils and fats. The change follows the ANP's November 12 notice for the 77th Biodiesel Auction covering the first two months of 2021.
Brazil's soybean oil stocks are at two-decade lows, so allowing imports could ease domestic supply tightness and pressure Brazilian soyoil prices lower as the new harvest approaches.
spglobal.comNov 18, 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.
