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On November 9, the US Commerce Department announced final countervailing duties on imported biodiesel from Indonesia and Argentina, alleging subsidies. The ruling affects Wilmar and Musim Mas, which export biodiesel to the US.
Antidumping and ITC injury investigations are still ongoing.
Final countervailing duties would raise the cost of Indonesian and Argentine biodiesel in the US, supporting US soybean oil and weighing on palm oil exports. The ITC injury vote could still end the process.
chainreactionresearch.comOct 24, 2017After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
