After the very significant losses on Wednesday, rape saw a slight upward trend yesterday. The February date rose by EUR 1 per ton to EUR 586.50 per ton. The follow-up contracts were also able to develop more firmly. On a weekly basis, however, a clear minus for rapeseed remains. Last Friday, the price for the February contract was still EUR 610.25/t on the Paris Euronext/Matif display board. Canola in Winnipeg fell yesterday, down Can$8.50. The front month on the ICE Winnipeg closed at the equivalent of 590.60 euros/t. EU rapeseed imports up to 20.11. have reached a volume of 2.84 million tons, in the previous year at the same time only 1.99 million tons were imported into the 27 EU member states. The Soy Complex gave no guidance yesterday. Due to the US holiday Thanksgiving, the CBoT was closed and will not start trading again until this afternoon. News from the soy complex came mainly from Argentina yesterday. The grain exchange in Buenos Aires had repeatedly pointed out the bleak prospects for Argentine soybean sowing and soybean harvesting in the past few weeks. Yesterday, the stock exchange confirmed its statements again.Currently, 19.4 percent of the planned areas are sown with soybeans, which means that sowing is almost 20 percentage points behind last year. Due to the drought, the originally planned soybean acreage of 16.3 million hectares will probably not be reached.
Source
VR AGRICULTURAL
