Rapeseed lost very significantly yesterday, Wednesday. For the May date, it went from 25.25 euros per ton south to 453.00 euros. The follow-up contracts also lost very heavily, although the losses are somewhat smaller. This means that rapeseed is again below the price of the previous Wednesday, when the Euronext/Matif scoreboard was still EUR 479.50 at the closing bell. The rapeseed imports of the European Union have reached 6.27 million tons in the current marketing year up to the 40th calendar week. In addition, 579,605 tons of rapeseed meal were imported into the international community. At this point in the previous year, it was 3.94 million tons for rapeseed and 439,168 tons for rapeseed meal. Sunflower and sunflower meal imports have also increased significantly compared to the previous year. Overall, the oilseeds were burdened yesterday. Palm oil, canola and soy also fell significantly in some cases, while crude oil itself remains expensive and rose slightly yesterday. Soybeans and soybean meal also posted losses in the generally weak market environment and continued the correction of the past few days. The better weather forecast gives reason to hope for rapid soybean sowing, which weighed on prices accordingly. However, some support came from exporters.The USDA was able to report a sale of 276,000 tons to a buyer of unknown origin. The agricultural consultancy StoneX has increased its previous forecast for the harvest in Brazil by 3 million tons and now expects a harvest of 157.5 million tons in the South American country. In its March WASDE, the USDA had expected Brazilian production of 153 million tons. In the current marketing year, the EU imported 9.08 million tons of soybeans (previous year: 10.54 million tons). Around half of the volume comes from the USA, followed by Brazil with a share of 29.2 percent. 11.98 million tonnes of soybean meal were also imported into the EU, compared to 12.36 million tonnes at this point in the previous year.
Source
VR AGRICULTURAL
