There is hardly any rapeseed available on the physical market for prompt delivery. The prices are currently around 300 € / to above the previous year's line. In East Germany, only 5% of the last harvest is said to be left unsold on the farms. The zigzag prices on the Paris stock exchange are also unable to arouse the interest of market participants. On the contrary, the interest in buying is down. People generally hold back because individual oil mills should be relatively well supplied with rapeseed by the end of the year. But whoever needs goods pays very high premiums on the stock exchange listings. The relatively high rapeseed prices of the new harvest show that one can still remember a late harvest this year. The bids for rapeseed of the new harvest have recently declined, which motivates some farmers to offer more partial lots.
Rapeseed meal prices rose again this week. Because of the ongoing logistics problems, which are unlikely to be over by Christmas and, as expected, mean delivery delays, the market participants now want to secure their deals. Soy meal has also become more expensive and the demand is significantly better than last week.Imports from Argentina are delayed and rising freight costs do the rest.
Volatile crude oil prices give traders in the vegetable oil market hope that rapeseed oil prices will fall soon. However, biodiesel producers currently only receive half of their deliveries because low water levels are an additional obstacle to logistics. As a result, however, the demand for rapeseed oil refinates is lower and the prices for rapeseed oil are falling.
Source
Hansa Terminhandel GmbH