Rapeseed continues its downward trend. For the November date, it fell by EUR 17.25 per ton to EUR 630.00. Harvest pressure in Europe and overall satisfactory harvest results in Germany continue to weigh on the mood. In addition, the weather forecast for Canada has improved again and bearish signals are coming from the soybean complex and the oil market, which are also dragging rapeseed down. Soybean prices also fell on CBoT yesterday. This is mainly due to the improved weather forecast in the US growing areas over the weekend. Professional investors also sold long positions on a larger scale yesterday. However, the loss was limited by the export figures published yesterday. The USDA reported that in the week of 7/14 450,000 tons of soybeans were sold, shipments amounted to 500,000 tons.
Source
VR AgrarBeratung AG
