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Argentina raised its biodiesel purchase price to about $653.5 per metric ton, retroactive to sales from April 1. The government adjusts the price monthly based on soybean oil feedstock prices.
The 10% biodiesel mandate is supported by manipulating taxes and export tariffs on soy products.
Higher guaranteed biodiesel prices support Argentine biodiesel output and soy oil use, which tightens soybean oil supply for export and supports soy oil prices.
biofuelsdigest.comMeghan SappApr 8, 2019After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
