In the past week, the prices of the Matif rapeseed futures rose again above the € 370 / ton mark. Both the EU Commission and Grain's strategy in France lowered their harvest estimates for the 2020 rapeseed harvest in the EU. The long-lasting drought has ended today in northern and eastern Germany, but in many regions the field stocks already show a heterogeneous population development.
In addition, the relaxation of the corona measures supports the price development of futures contracts on energy and thus also the rapeseed prices. More fuel is being used again, to which biofuels are also added.
The rapeseed trade is now focused exclusively on the new crop. But buyers and sellers rarely come together there either, because the prices offered to farmers in this country are too low. The trade in rapeseed meal is also extremely quiet. The compound feed manufacturers are well stocked and the demand is so bad that the bullish reports of a small EU rapeseed crop have no effect. Rapeseed meal prices are under pressure, but soybean meal prices are rising, even though North and South America are harvesting large amounts.However, China has a lot of catching up to do and is currently buying large quantities of soybeans in the USA.
Source
Hansa Terminhandel GmbH
