Following the sharp rise in the price of Matif rapeseed futures, the remaining quantities are now to be sold on the spot market. The speculation on further price increases has apparently come to an end. The market may have overheated and the prices of CBoT soybean futures are no longer providing any support either.
A trend reversal has been emerging on the Paris stock exchange since yesterday.
Exchange participants are now concentrating their trading on the new crop, as there is not much left of the old crop. The picture on the cash market is similar: oil mills are responding positively to the increasing supply from the agricultural sector and more contracts are being concluded for rapeseed from the 2020 harvest.
As is usual for the season, compound feed producers are also showing interest in buying rapeseed meal, which is in line with supply from oil mills.
Rapeseed oil prices have risen in line with rapeseed market prices. Demand from biodiesel producers has been extremely good recently. However, the latest USDA figures show that stocks in the USA and worldwide are larger than previously assumed.
Source
HANSA Terminhandel
