December soybean oil futures fell 1.34% to 67.11 cents/lb after reversing from an intraday high of 70.08 cents/lb on October 13. The move followed new US biofuel proposals.
New biofuel proposals weigh on soybean oil demand expectations, and softer oil values reduce crush margins and support for soybean meal.
After 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 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.
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.