23.
07.20
15:17

HANSA futures trading - oilseed mail

With a small acreage and, at best, average yields, the rapeseed harvest will be small again in Germany and also in the EU as a whole. It remains to be seen whether the domestic harvest will actually be larger than expected in the two weak previous years, as initially expected. That is why the EU is again dependent on large rapeseed imports this year. However, Ukraine will also harvest less rapeseed, so that other origins such as Canada and Australia would have to close our supply gap. In the past week, the prices for rapeseed rose sharply to € 367 / t on the national average. This has also been the case in the harvest season in the past two years.
Compound feed manufacturers took the opportunity to stock up on rapeseed meal for the coming weeks.
Rapeseed oil prices were supported by firmer soy and palm oil prices in the reporting week. The smaller harvest expectations suggest that there will hardly be any major corrections to the price level now being established. The stronger prices of soybean oil benefited from China's brisk demand for US soybeans.

Source
Hansa Terminhandel GmbH
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