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The European Commission published results of a public consultation on its planned EU action against deforestation. Nearly 1,000 responses were received, with 73% saying the current framework is inadequate and 80% naming palm oil as a priority commodity, followed by meat, soy, biodiesel and wood.
Strong stakeholder focus on palm oil, soy and biodiesel signals possible future EU trade restrictions, a long-term bearish risk for those commodities.
timberbiz.com.auElizabeth BouzoudisMay 7, 2019After 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.
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.
