Brazil’s soy crushers demanding government clarify biodiesel blending intentions

In Brazil, Reuters reports that the country’s soy crushers are extremely concerned about the government’s recent lowering of biodiesel blending back to 10% last month and are calling on the government to clearly articulate its plans for returning to the 13% blend, or not. Abiove, which represents the largest soy crushing companies in the country, says even if the mandate isn’t returned that they would still export more soybean and soy oil than last year, but that margins will be hit as a result of the sudden cut in blending as prices drop in response.