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UFOP released its third global market supply report and its chairman argued that rapeseed is the key EU source of biofuel feedstock and GM-free feed protein. The group criticized RED II for capping crop-based biofuels at 7%.
It said global food supply is sufficient.
A cap on crop-based biofuels in the EU could reduce rapeseed oil demand for biodiesel and shift more rapeseed to meal, pressuring canola and rapeseed-related prices.
ufop.deApr 4, 2019Not enough comparable past events yet for a historical read.
After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), 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.
