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Argentina will apply soybean and soy product export taxes on the shipment date rather than the contract closing date, under a decree published on Tuesday. Indonesia's energy ministry plans to allocate 3.46 million kilolitres of biodiesel for 2018.
Crude palm oil futures rose 0.69% as demand picked up.
Argentina's tax timing change may speed soybean and meal shipments, affecting export flows. Indonesia's larger biodiesel allocation adds palm oil demand, supporting prices.
prestasisawit.mpob.gov.myApr 4, 2018After 554 past neutral policy events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
After 206 past neutral policy events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% over 20.
After 548 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), 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.
