The oilseed markets started the weekend mixed. While rapeseed rallied in Paris, canola prices in Winnipeg fell, with stock market participants blaming profit-taking as the main factor. Palm oil remains volatile, posting Friday's sharpest daily pullback on record. Soybeans lost just as much as soybean oil, only soybean meal showed a green sign at the CBoT. According to market observers in Chicago, the production losses for oilseeds, especially rapeseed and sunflower oil, have now been priced in. Slightly improved conditions in South America and profit-taking weighed on Friday's trading, although higher pre-market prices are being traded again today. Oil prices started the new week with a plus of 10%. Brent is currently priced at $128.63, up from $139.13 at launch. The strong increase today is mainly due to the rumors of an import ban for Russian oil. According to the Secretary of State, the US government is negotiating this step with its European partners. In Japan, the discussions are also discussed.
Source
VR AgrarBeratung AG
