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Leaked documents indicate Russia plans to raise export tariffs on sunflower seeds from 6.5% to 20% for February to September 2021 within the Eurasian Economic Union. Chicago soybean futures eased on improved Midwest weather, while NOPA reported lower May crush versus April.
A tariff increase on Russian sunflower seed exports would tighten EU supply of sunflower meal and oil, supporting sunflower and competing vegetable oil prices. Soybean market moves were modest.
mundus-agri.euJun 17, 2020Not enough comparable past events yet for a historical read.
After 206 past neutral policy events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% 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.
