Rapeseed fell significantly yesterday. The new front month of February 23 fell to EUR 648.75 and thus recorded a daily loss of EUR 16 per ton. Prices for rapeseed have recently risen on cash markets in Germany. The bioenergy industry in particular is currently increasingly asking producers and collectors for rapeseed. Overall, however, the producers are still very reluctant when it comes to deals for their goods. The field crops are considered to be good to very good in terms of their development. Canola was also down yesterday, but is much more moderate with a daily loss of $1.90 Canola. Palm oil has recently picked up again, and good export demand in particular is providing support on the Kuala Lumpur stock exchange. Soya also corrected yesterday. The rumors that the Chinese government will relax its corona policy were officially denied yesterday. Accordingly, the eupohoria reversed and the prices for soybeans and soybean meal fell. The Chinese import data for the month of October also caused disillusionment.According to this, around 19 percent less soy was imported in October 2022, which was registered in October 2021 and at the same time the weakest import month since 2014. US export shipments for the week ended November 3rd are stable at 2.591 million tonnes of beans. The previous week's value was about the same level. Soybean oil also lost yesterday after the rally of the past few days and closed December down 0.84 US cents/pound at 76.33 US cents/pound and thus at the equivalent of €1,679.42/t.
Source
VR AGRICULTURAL
