In many parts of the EU, rapeseed producers are now starting to liquidate their stocks. They need space for the new harvest and have little hope of rising prices at the end of the marketing period.
As the rape supply is increasing, but the oil mills are showing little interest in it, the premiums decline even with falling forward market prices. In addition, there is also rape seed from the Ukraine on the market, which is probably the biggest competitor to the domestic offer.
Low-priced biodiesel imports from Argentina (soybean methyl ester) and Indonesia (palm methyl ester) are now preferred by the mineral oil companies. Although rapeseed methyl ester has the advantage that it can be used down to -10 ° C, this has not been an argument since the beginning of April.
Meanwhile, prices for soybean meal have risen sharply over the week. This is mainly due to the price increases at the CBoT. The Argentine soybean harvest is estimated to be smaller and smaller after a months-long drought, so that the shred offer from there will be significantly smaller. Demand for rapeseed meal has risen sharply in this country and drives up prices.
