Rapeseed producer prices in Germany were able to continue to stabilize this week. Compared to the previous week, they rose by € 4 per ton to € 342 per ton. Ex harvest, the claims are € 346 per ton and thus € 5 higher than in the previous week. Since the bids do not meet the expectations of the producers, business is currently largely at a standstill. There is hardly any old goods left. A further increase would require stronger impulses from the futures market or buying interest from the oil mills. Neither is expected at the moment. There is also a lack of support from the biodiesel market.
The demand of compound feed manufacturers, which was recently heavily influenced by hamster purchases, seems to be subsiding again, since many are initially supplied with goods.
Soybean meal prices have dropped somewhat recently. Soybean meal with a ProFett content of 44% fell by € 7 compared to the previous week to € 365 / tonne FOB Hamburg. 48-piece goods also fell by € 7 to € 397 per ton.
Developments on the vegetable oil market are mixed. Rapeseed oil rose by € 8 at the end of March to € 703 per tonne. The reduced EU rapeseed harvest forecast provided a boost.In addition, an increase in rapeseed oil demand from China and a somewhat livelier demand for biodiesel are reported. In the coming weeks, several oil mills for the maintenance and repair of the production lines will herald the annual plant vacation, which is expected to lead to a shortage of rapeseed oil.
The prices for soybean oil decreased and thus contradicted the fixed trend because there was no clear impetus on the international market and the attachment of the soybean complex to the Chicago Stock Exchange had not yet reached the EU vegetable oil market.
Source
Hansa Terminhandel GmbH
