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Fern welcomed a European Commission Communication, released July 23, 2019, that opens the door to supply-chain regulation of agricultural imports linked to deforestation. Fern criticised the plan for not addressing EU consumption levels or soy, which it called the largest contributor to the EU's deforestation footprint.
Possible future EU supply-chain rules on soy and other forest-risk commodities could eventually restrict or add cost to imports, but no binding measure exists yet, so the near-term price effect is limited.
fern.orgSep 18, 2019After 1,905 past policy events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), and +0.2% over 20.
After 734 past policy events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.9% to +1.6%), and -0.4% over 20.
After 1,570 past policy events, Palm Oil moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.5% 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.
