Rape was able to gain again yesterday in Paris. Although the price gains were significantly smaller than on Monday, at the end of the trading day the November contract stood at EUR 606.50/t, a price increase of EUR 1.75 per tonne. The uncertainties in relation to the Ukrainian Black Sea exports are also having an effect on rapeseed, and Monday's jumps in soybeans also provided a tailwind yesterday. Soybeans on the CBoT mostly fell yesterday. Although the new front month of November was at its highest level since June of this year, profit-taking put pressure on prices. However, the US inflation figures published yesterday also caused uncertainty on the financial and commodity markets with regard to further economic development. In the weekly crop report, soy stocks were again revised down 1 percentage point, limiting losses. Stocks in the US are increasingly maturing. 22 percent of the stocks have drooping leaves. The US harvest should start soon. Soybeans, soybean meal and soybean oil are showing green signs before the trading day.
Source
VR AgrarBeratung AG
