Demand for rapeseed meal remains manageable

Matif rapeseed was unable to benefit from the fundamentally positive trend on the agricultural markets yesterday. Yesterday the contracts moved in a wide trading range between 437.00 euros at the low point and 446.50 euros/t at the daily peak. At the closing bell there was a price of 440.75 euros/t and thus a daily loss of 0.50 euros/t on the Paris Stock Exchange display board. The subsequent contracts lost to a somewhat greater extent. Rapeseed meal prices have been able to develop somewhat more firmly in the past week. Overall, however, demand remains subdued. With the exception of eastern Germany, overall demand is reported to be calm with an overall sufficient supply of goods. Canola in Winnipeg gave way more noticeably yesterday. The current and well-progressing harvest in the Canadian prairies plays a crucial role in trade. But losses in competing vegetable oils also had a negative impact on both rapeseed and canola yesterday. The fact that the losses in Paris were relatively low is also due to Russia's recent attacks on the Danube port of Ismail. According to Ukrainian information, the attacks from Sunday to Monday caused significant damage to storage and trucks.

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