Farmers have little rapeseed left to sell from the last harvest. This is causing rapeseed prices on the Paris Matif to rise. The collection trade is now paying producer prices of €385/tonne and the drop shipment business has already exceeded the €400/tonne mark. However, the rapid price increase is not leading to a better willingness to sell; not even for the 2020 harvest. The young crops have not yet been able to build up frost hardiness and the effects of the Fertilizer Ordinance are likely to lead to yield losses.
On the market for oilseed meal, buying interest among feed mixers has subsided. Most of them are now well supplied for the festive season. However, there are concerns about soybean meal supplies from Argentina, where an oil mill has broken down and supplies from there could soon dry up. Against the backdrop of the sharp rise in rapeseed prices, demand for rapeseed meal remains within narrow limits.
Prices for vegetable oils are dominated by strong price increases in CBoT soybean oil futures. An initial partial solution was reached in the trade talks between Beijing and Washington, resulting in rising prices in the CBoT soy complex. In addition, the new government in Argentina has decided on higher export tariffs, which improves the USA's export opportunities. All of this is also pushing up prices for rapeseed and palm oil. There are also signs of another small rapeseed harvest in Europe in 2020.
