There is still a great deal of uncertainty in Germany about the yields from the rapeseed fields even a few weeks before the harvest. Even if it rained in many parts of the country last weekend, the water deficits in the soil are large. The farmers are therefore very reluctant to offer their next harvest, which has led to firmer producer prices. This is also reflected in the futures market in Paris.
The soybean market has little scope for higher prices. South America offers plenty from its good harvest. The mixed feed industry in Germany can therefore sit back and wait for further discounts. The rapeseed meal market is different. Here the local supply is limited, which supports the prices.
As crude oil prices have doubled since last week, rapeseed oil prices are also increasing. Biodiesel manufacturers buy rapeseed because the contact restrictions are now gradually being lifted and currently there is little soy methyl ester coming from Argentina because the supply chains in the southern hemisphere have broken down there.
There is already political tension between China and the USA, which is causing the highly competitive trade agreement to falter.That is why nobody currently believes in sustainably rising soybean prices. 
Source
Hansa Terminhandel GmbH
