The rapeseed contracts on the Matif/Euronext had to cope with a strong price correction yesterday. For the front month it went 44.75 euros/tonne southwards to 831.25 euros/tonne. Soybeans also went into the red across the board. The July date was down $15.25 US cents/bushel and thus costs the equivalent of EUR 582.44 per ton. The scrap contracts were able to break away from this and posted marginal profits. Concerns about economic development and high inflation fueled the bears in yesterday's trading. Even the report of a new export deal with an unknown customer could no longer help the oilseed into the green. In Brazil, the analysts from Anec, the local industry association, expect export business to reach a volume of 11.48 million tons in the current month. This raised the forecast slightly.
Source
VR Agrarberatung
