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A report assessing corporate commitments to cut deforestation found palm oil and wood companies have made more pledges than soy and cattle producers. Only 21 percent of soy and as little as 12 percent of cattle sourcers had made commitments.
Weaker deforestation commitments in soy and cattle supply chains signal limited near-term change in sourcing, so the report has little direct price effect on feed commodities.
reuters.comMegan RowlingNov 3, 2016After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 66 past neutral report events, Palm Oil moved a median +0.2% over 5 sessions (58% higher; middle half -0.4% to +2.0%), and +2.2% 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.
