With only a slight tendency on the part of farmers to sell rapeseed of the new crop and the oil mills lacking interest in buying, the market for rapeseed in Germany is currently standing still. The vegetation conditions have improved across Germany after the rainfalls of the past few days. Cooler temperatures also reduce evaporation rates. Farmers still expect yields to fall. The 2020 rapeseed harvest is expected to be larger in Germany than in the previous year, but lower than the 5-year average. Rapeseed futures rates have improved slightly in the past week.
Compound feed companies show little interest in buying rapeseed meal for prompt delivery. That could change soon, however, as less rapeseed meal will be offered from August onwards, as many oil mills will then go on holiday since the sale of rapeseed oil is becoming more difficult. In this respect, the rapeseed meal prices for delivery from August to October hardly went down. A large supply of soybean meal from South America is putting pressure on the German market and preventing price increases.
With rising prices for rapeseed oil, the gap to palm oil increases from € 121 / to at the end of March to currently € 262 / to.Since biodiesel demand is picking up again due to global easing measures, rapeseed oil now costs € 23 / t more than € a week earlier than it was a week ago. It is expected that the raw material rapeseed will also have to be imported into the EU on a large scale in the coming marketing season.
The prices of the soybean oil futures at the CBoT continue to be influenced by low crude oil prices. Now China wants to keep its promise to buy more agricultural commodities from the USA, which supports the prices. 
Source
Hansa Terminhandel GmbH
