Canada is exporting more canola again

At the end of the week, rapeseed prices in Paris were clearly under pressure. The front month of November 2023 fell by 13.25 euros/t to 394.00 euros/t, the now most traded February date lost 8.75 euros/t with a closing price of 431.75 euros/t. Accordingly, spot market prices were weaker over the weekend. Sales remain manageable, also because oil mills are well stocked until the end of the year and demand for rapeseed meal has recently declined. In addition, negative specifications in the soy complex and from the crude oil markets had a negative impact on contracts on the Paris stock exchange. Canada's exports are improving again. According to statistical information, 214,500 tonnes of canola were exported in the last reporting week, marking the best value in 29 weeks. Over the past week, rapeseed prices have fallen overall on both the cash markets and the stock exchange. The February contract was still trading at 444.00 euros/t on Friday of the previous week, which was 12.25 euros/t higher.

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