Yesterday we headed south for rapeseed. The front month of February lost 6.75 euros and closed at 426.00 euros/t, well below the level at the beginning of December, when 450.75 euros/t was still on the dealer list for the front month. The situation on the cash market remains manageable even shortly before Christmas. There is no need for short-term deliveries and producers are often waiting to see further price developments. However, demand for rapeseed meal remains good. High demands of up to 400 euros/t are sometimes quoted for prompt batches, but many manufacturers will only be able to deliver again in the new year. Rapeseed oil prices, on the other hand, are trending weaker. German rapeseed oil is currently priced fob mill at 907 euros/t, which is 3 euros/t less than the previous week. In the port of Rotterdam, the price corrections have recently been more significant, with prices here falling by up to 15 euros/t. Good demand for rapeseed oil is reported at the food retail level. Grocery chains are currently negotiating lots for the second quarter of 2024. Canola in Winnipeg fell again yesterday after the friendly increase on Monday. The rising Canadian dollar and the weak inputs from the soy market caused prices to trend south.
Source
VR AGRICULTURE
