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The European Commission was set to discuss rules limiting biofuel crops linked to deforestation, with a legally binding act to follow. Indonesia and Malaysia called the proposal discriminatory, and Jakarta planned a WTO complaint.
Tough criteria could significantly cut palm oil exports from Indonesia and Malaysia, the two largest producers, which is bearish for palm oil prices and supportive for competing vegetable oils.
theecologist.orgFeb 11, 2019After 158 past bearish trade events, PALMOIL moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.
After 224 past bullish trade events, SBO moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), 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.
