The recovery in rapeseed prices the day before yesterday did not last long. With significant losses, rapeseed went down yesterday at the Euronext/Matif in Paris. The November date loses 23.75 euros per ton and is thus quoted at 633 euros/t. Last Friday, November closed at a price of 689.75 euros/t. The Federal Information Center for Agriculture (BZL) yesterday published its supply balance for 2021 for oilseeds. According to this, Germany was able to cover 43% of its demand for rapeseed oil last year. That is 4 percentage points more than in 2020. According to the statistics, around 1 million tons of rapeseed oil were imported net. The EU member states imported 490,000 tons of rapeseed in July. This is an increase of 70% compared to July of the previous year. 78 percent come from Australia, but Ukraine is also represented again with a quantity of 48,000 tons. Soybeans continued their slide yesterday. While there were still green signs on the display board in the morning, the contracts turned negative in the course of trading. For the weekend, the meteorologists expect rain in the important soybean cultivation areas. However, the prospect of another heat wave heading for the USA in the coming week is dampening the losses.Declining crude oil prices are also putting pressure on trade.
Source
VR AgrarBeratung AG
