Today the front month in the Matif rapeseed contract reached a new high. In the morning, the futures contract maturing in February 2022 was trading at its all-time high of € 723 / to. In the past week, the futures exchange was turbulent with large daily fluctuations. Quite different on the cash market, because there are only a few shops selling rapeseed. Most of the farmers have largely sold their harvest and are hardly on the market. The market participants meet their delivery obligations and are challenged by the tense freight market.
The stricter rules to combat the corona pandemic are making it more difficult to do business. At the seaports, the range is supplemented by imports.
Since the compound feed manufacturers are well supplied for the rest of this year or even until February 2022, the suppliers of rapeseed meal had to cut their demands. One can confidently doubt whether this will remain the case in view of the high prices for rapeseed. On the market for forage meal, the problems with logistics are likely to worsen at Christmas. There are already considerable delivery problems due to the lack of transport space and truck drivers.
The scarce supply of vegetable oils keeps the prices for rapeseed oil at a high level. This is also reflected in the high premiums for refined rapeseed oil. With the prices for biodiesel falling, demand has recently been restrained.
Source
Hansa Terminhandel GmbH