Canola cannot benefit from the positive soy environment

Unlike the other agricultural commodity markets, the rapeseed contracts on the Euronext/Matif in Paris were unable to benefit from the positive mood on the markets on Friday. The contracts showed a slightly red sign, the November date slipped below the 600 euro mark. The rapid harvest of Canadian canola is also depressing the mood in Paris. At best, bullish leads from the soy complex limited losses. Soybeans on the CBoT ended trading in green on Friday. The most traded November date gained 26.25 US cents/bu over the course of the trading day and closed at 1,412.25 US cents/bu (506.88 euros/t). First and foremost, soybeans followed the guidelines for crude oil. WTI rose to $86.73/barrel and gained by $2.99. For today's WASDE, the analysts expect a slight correction in yields for the upcoming soybean harvest. However, the lower yields are likely to be offset by better export prospects in Argentina as a result of government measures. Soybean oil was also up on Friday and is quoted at 64.82 US cents/pound (136.50 €/dt) in the most traded December date. Soybean beans for December rose by $4.80 to US$410.70/short ton, equivalent to €450.89/t.