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Euractiv reports that global demand for beef and soy is linked to the Amazon fires that drew attention at the G7 meeting in France. Brazil exported a record 1.64 million tons of beef in 2018, and extensive cattle grazing drives most Amazon deforestation.
Irish Prime Minister Leo Varadkar threatened to vote against the EU-Mercosur deal over the fires.
International pressure over the fires could restrict Brazilian beef and soy trade with the EU and China, which may affect Brazilian export prices and global protein and oilseed supplies over time.
euractiv.comEuractiv.com with AFPAug 26, 2019After 554 past neutral policy events, SOY 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.
