The rapeseed contracts reacted to the developments on the markets yesterday with a sharp price jump. The front month recorded the highest daily gain of 70.25 euros/ton to 825.75 euros/ton. Likewise, Canola futures rose sharply yesterday. Above all, the rising oil prices pulled the prices further up. The scoreboards at the soy complex glowed dark green yesterday. Both the beans; as well as the scrap contracts recorded double-digit gains. In particular, the continued rise in crude oil prices continued to feed the bulls. Meanwhile, the USDA revised Argentina's soybean crop down to 41mn tons (-4mn tons). According to the analysts, the main reason for the correction was the unfavorable cultivation conditions. Harvesting work continues in Brazil and has meanwhile reached almost 42%. However, with the coming rains, the work could be delayed.
