24.
08.23
11:10

Canola benefits from friendly environment for vegetable oils

The rapeseed contracts on Euronext/Matif went out of trading yesterday with a clear green sign. The most traded November date closed at EUR 472/t and was thus EUR 6.75 higher than on Tuesday. Friendly developments in the soybean complex and palm oil gave oilseed a tailwind. The rapeseed harvest, which is slowly but surely over, also means that prices can tend to firm up. Canola in Winnipeg was also up yesterday. Here, market participants are lining up for today's Statistics Canada figures for this year's canola crop. It is expected that the authority will cut the forecast by a good 730,000 tons to 17.4 million tons of canola harvest. Hot temperatures are currently affecting stocks on the prairie. The USDA had recently expected Canadian production of 19 million tons. At the start of today's trading day, there are slightly weaker trends in rapeseed in Paris.

Source
VR AGRICULTURAL
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