European soybean buyers cautious as EUDR timeline creates market uncertainty: Platts

European soybean buyers and sellers are treading cautiously amid growing uncertainty over near-term prices following the European Commission’s proposed extension of the EU Deforestation Regulation (EUDR) implementation timeline, according to Platts, part of S&P Global Commodity Insights. The proposal, unveiled on October 21, has introduced renewed debate and caution across Europe’s feed and crushing markets, with participants warning of tighter supply, rising premiums, and complications in feed cost planning. The EUDR aims to ensure that commodities such as soy, palm oil, coffee, and cocoa, and their derived products, entering the EU market are deforestation-free and compliant with the laws of the country of production. Companies will be required to provide detailed due-diligence statements, including geolocation data for the land where commodities were produced. While the regulation officially entered into force in June 2023, its phased enforcement has prompted significant ...