While there was hardly any change in the supply and demand for rapeseed on the domestic cash markets, the contracts on the Parisian Matif lost very significantly. The February date, which is about to expire, lost 38.75 and closed yesterday's trading day at 740.25 euros / t. The omens in Winnipeg for canola were just as dramatic. The March date traded on the ICE lost 29.90 Can-Dollars and is thus listed again below the 1,000 Can-Dollar mark. The soy complex showed its bearish side yesterday. According to new weather models, drought-stricken Argentina can expect heavy rains at the weekend. It remains to be seen whether the latest reductions in harvest expectations in South America will last for a long time. The International Grains Council (IGC) lowered its forecast for global soy production for the current season yesterday, as did the USDA on Wednesday.
Source
VR AgrarBeratung AG
