Rape also went south yesterday. Since the beginning of the week, the November date on Euronext/Matif has lost EUR 52.25 per tonne. Accordingly, the spot quotations in Germany have also fallen. Franko Ölmühle Hamburg is being called for 595 euros/t today, in Straubigen it is 590 euros and in Mannheim 605 euros. The rapeseed meal prices have also dropped significantly and are being offered at 346.50 euros/t on average across Germany. That is 33.80 euros/t less than last week. EU rapeseed imports are still high, Ukraine is able to deliver again and brisk trade across the Black Sea is weighing on price developments. In addition, falling prices for palm and soybean oil, but also for sunflower oil, are putting a strain on trade. Soybeans posted significant gains yesterday. The recovery in crude oil prices is one reason for this. However, the good export figures from the USDA were more important. 1.4 million tons were booked, which is almost twice as much as had been expected in advance. The IGC's upgraded soybean forecast and continued good weather prospects in US growing regions limited gains.
Source
VR AgrarBeratung AG
