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The European Commission ruled that US soybeans can be used for biofuel production in the EU, valid until July 1, 2021 and extendable if sustainability criteria are met. Industry sources said the decision is unlikely to lead to a large increase in US soybean imports.
The move is part of the EU's effort to ease trade tensions with Washington.
The ruling removes a barrier that let EU processors use soyoil domestically, but it is not expected to add much soybean import demand. Price impact is modest, though it supports US soybean export flows over time.
bworldonline.comCEDTyCleaFeb 3, 2019After 250 past neutral trade events, SOY moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 81 past neutral trade events, SBO moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), 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.
