Yesterday there were again green signs for rapeseed at the Euronext/Matif in Paris. The November date gained EUR 4.25 per tonne, the follow-up contract for February 23 even EUR 6.00 per tonne. Canola in Winnipeg was also up. The most traded canola contract for January closed yesterday at a price equivalent to 650.15 euros/t. Just as in Europe, the farmers here are mostly reluctant to sell their crops and are thus supporting the price structure. Soya rose sharply yesterday. The leading November date was 19 US cents/bu northbound. Soybean meal also climbed and closed the December contract at US$ 413.30/short ton (equivalent to EUR 463.36/t). Export figures were the main source of support. With a weekly sales volume of 2.335 million tons, the highest weekly value for over a year was recorded. In addition, a private sale of 201,000 tons to China and over 132,000 tons to an unknown destination was announced yesterday. As expected, the IGC made cuts in its latest forecast for global soybean production. The soybean harvest was reduced by 1 million tons, the ending stocks are increasing slightly.
Source
VR AGRAR
