The Chicago and Winnipeg stock exchanges remained closed yesterday. Specifications from the soy complex and the Canadian canola were missing and so the contracts for rapeseed in Paris hardly changed. The front month lost EUR 0.25 per ton and closed at EUR 612.50 per ton. By the end of August, the EU countries had imported 972,566 tonnes of rapeseed. In addition, 65,947 tons of rapeseed meal and 67,802 tons of rapeseed oil were imported into the EU. Rapeseed imports are thus around 300,000 tonnes higher than at the end of August 2021. Meal and oil imports, on the other hand, are lower. Soybean exports have also declined significantly. Instead of 2.21 million tons at the end of August 2021, 1.95 million tons were imported by the end of August 2022. At 2.37 million tons, soybean meal imports are around 200,000 tons below the previous year's level. Argentina is currently struggling with weak soy exports and would like to boost them. The government apparently plans to give exporters a better exchange rate. The government is also pursuing the goal of bringing more foreign currency into its own country. According to official information, the measure will initially apply until the end of October this year. Premarket soybean contracts in Chicago are slightly red.Soybean meal is also traded a little weaker than on Friday.
Source
VR AgrarBeratung AG
