Ölsaaten Cockpit, 10.01.2020

The rapeseed rally on Euronext / Matif is still not over. Since December 2, 2019, rapeseed has won 29.50 euros / t in the front month. Canola on the ICE in Winnipeg also performed similarly. Trade on the Matif remains supported by a small rapeseed harvest in Europe and a high import requirement by the EU. The later dates, for example for November 2020, also increased with significantly fewer sales. Soy was also drawn into the tensions between the United States and Iran, although not quite as strongly as wheat. After the Trump speech on Wednesday, the prices caught up again, but were slowed down by the analysis of the Brazilian agricultural market analyst CONAB, who increased the local harvest by 1.13 million tons to 122.2 million tons. It is eagerly awaited how the USDA will assess its assessment of the South American harvest this evening. Analysts' expectations for today's WASDE report expect fewer soy stocks on average than the USDA had estimated in December 2019. If analysts are right, global soybean stocks are also likely to be lower than in December WASDE. The majority also expect US production to be revised downwards.There is little movement for soybean meal on the spot markets. Compared to the end of December, the curves show sideways to slightly weaker. Rapeseed meal is traded more solidly in many places than at the end of December.