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EU agriculture ministers broadly backed the Commission's framework to combat global deforestation at a Luxembourg meeting on October 14. Several states asked for trade agreements to include anti-deforestation provisions and for reduced demand for deforestation-linked products.
The Agriculture Council will adopt conclusions in December.
Support for demand-side curbs and trade clauses signals future pressure on imported soy and vegetable oils, but the measures are still at the conclusions stage and have limited near-term price impact.
agenceurope.euOct 13, 2019After 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.
After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
