The turmoil in the financial and commodity markets after a sharp decline in crude oil is putting massive pressure on the oilseed markets. Black Monday , as some newspapers have already dubbed it, hit the soy complex even more . The May contract loses 21.25 US cents / bu. In the meantime, the Chicago stock exchanges are also becoming friendlier again. The prices of soybean meal and rapeseed meal on the spot markets are falling , as are the stock market prices. Rapeseed meal is stated in Rostock for delivery in May at 217 euros / t (- 4 euros / t). Soybean meal from Magdeburg station loses 11 euros / t compared to 5.3. and is promptly stated for delivery at 314 euros. In addition to the developments around Corona, the developments and decisions in the price war for crude oil between OPEC (primarily Saudi Arabia) and Russia will also affect the further price and price development for the vegetable oil markets as a whole.
Source
ZMP
