The May contract for rapeseed on Euronext/Matif moved sideways yesterday and was able to achieve a small plus of 0.25 euros/t at the end of the trading day. The front month thus ended with a closing price of 528.50 euros/t. However, the rapeseed prices did not point in a uniform direction yesterday, so the follow-up August contract lost 0.25 euros/t. The cash markets have recently also shown weaker tendencies with manageable sales. The canola prices in Winnipeg showed little movement yesterday. The most traded May contract closed with a profit of 0.40 Can-$ at 818.60 Can-$ (565.21 Euro/t). The critical situation regarding the extension of the grain agreement for Ukraine on the one hand and the increased acreage in France and Germany on the other hand mean that there is currently no clear direction for rapeseed. The rapeseed imports published yesterday show that the EU until February 26th imported 5.33 million tons of rapeseed, around 1.92 million tons more than at the same time last year. Soybeans are up sharply on the CBoT. Soybean meal and soybean oil also corrected north yesterday.First and foremost, the price movement yesterday is seen as a countermovement to the recent decline in soybean prices. Little has changed recently in the fundamental data in Argentina or Brazil. China apparently sorted soy orders in Argentina and instead bought those quantities in Brazil. The soy complex starts today's trading day with slight gains.
Source
VR AGRICULTURAL
