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WWF welcomed the European Commission's roadmap toward a Communication on stepping up action against deforestation, expected in the second quarter of 2019. The group said the EU accounts for up to 36% of global imports of crop and livestock products linked to deforestation.
The roadmap signals future EU measures that could curb imports of soy, palm oil and beef, a gradual bearish factor for these commodities. Adoption is not expected until mid-2019, so prices are not moved now.
wwf.mgDec 18, 2018After 400 past bearish policy events, PALMOIL 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, SOY 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.
