Once again, rapeseed fell significantly on the Euronext/Matif. The February 223 front date closed at EUR 641.50/t, EUR 7.25 lower than on Tuesday. Demand on the cash markets is currently low due to the good supply of the oil mills. By the end of the year, these appear to be sufficiently supplied with oilseed. As a result of the last few trading days, the spot market prices also fell. For Magdeburg/Salzgitter, deliveries in the next three months are quoted at 652 euros/t, in Hamm/Neuss it is 655 euros/t and in Straubingen in Bavaria, carriage paid oil mills are quoted at 631 euros for prompt deliveries. Weaker prices can also be seen for rapeseed meal. from the Hamburg station, 369 euros/t were quoted yesterday for prompt deliveries. Canola on the ICE in Winnipeg also fell in price and closed at the equivalent of EUR 652.44 per ton. It is noteworthy that, despite the need for imports, European listings have recently been lower than those in the potential supplier countries. Soy was mostly weaker yesterday. The news situation paints a mixed picture.Three reported export sales to Mexico, China and an unknown destination supported prices, on the other hand, the rapid US soybean harvest is weighing on sentiment. Ahead of today's WADE, the majority of analysts expect the USDA to raise US soy stocks.
Source
VR AGRICULTURAL
