Rapeseed rose again yesterday and was able to end the trading day in August at 851.25 euros/t with a plus of 4.75 euros/t. The other delivery dates are listed at a lower level, but also increased yesterday. Rapeseed once again deviated from the specifications from Winnipeg. Canola prices have fallen significantly, and rainfall in the Canadian prairies give reason to hope for a good stock development. The soybean market will be supported above all by the good demand from China. According to the Chinese customs authorities, 8.1 million tons were imported in April, and total imports of 95.5 million tons are planned for the current year. Unlike beans, soybean meal went south. The front term lost $1.30 per short ton and closed the front month at €401.50/short ton. In the middle of the week, prices for soybean meal on the spot markets in Germany were also more favorable than at the end of last week. For the WASDE report, the market expects production cuts in South America.
Source
VR AgrarBeratung AG
