While soybeans lost on Friday, oilseeds on the Chicago Board of Trade showed a very clear gain on Monday. Soybean meal also started the new trading week with clearly positive signs. Trade was mainly supported by good export news. The USDA was able to report a private sale of 110,000 tons to a buyer of unknown origin. In addition, US export shipments were almost twice as high as in the previous week at 575,000 tons. Crude oil prices rose again significantly yesterday and provided overall support in line with oilseeds. Rapeseed could also benefit from this. While the increases on the Euronext/Matif on Friday were still very significant, the contracts on Monday yesterday only increased slightly. The front month of November ended the first day of trading with a plus of EUR 0.25 and closed at EUR 633.25/t. In Germany, the federal average recently showed lower producer prices for rapeseed. On average, prices on the German cash markets have fallen by EUR 25.60 per ton and are now at EUR 562.35/t. Canola in Winnipeg is also up, benefiting from both crude guidance and developments in soybeans.According to an evaluation of satellite images by Kleffmann Digital, the acreage for sunflowers in Ukraine has probably increased significantly despite the war. While the Ministry of Agriculture in Kyiv assumes an area under cultivation of 4.8 million hectares, according to Kleffmann data up to 6.9 million hectares could have been used for cultivation.
Source
VR AGRAR
