Demand for rapeseed meal is increasing again

Yesterday rapeseed showed significant losses. For the most traded November date it fell by 14.50 euros/t to 424.50 euros/t. This means that the oilseed has lost 20.50 euros/t per ton since the beginning of the week. On the cash markets there are also significant price drops at the wholesale level and also in the purchasing prices of retailers. Yesterday Franko Ölmühle Hamburg was quoted 446.00 euros/t for deliveries in November, last Thursday it was 462 euros/t. Overall, the supply on the cash markets remains sufficient and in Canada there is still good availability of canola with the harvest almost completed. The prices there showed little change yesterday. Losses from competing vegetable oils have a negative impact on rapeseed. The price of crude oil also fell significantly again yesterday. The weak US labor market data has increased concerns about economic slowdowns and put corresponding pressure on oil prices. As reported, the demand for rapeseed meal has increased slightly again, but at the same time the range of goods on offer remains manageable. Nevertheless, at the wholesale level there are weaker prices for the meal compared to the previous week.

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