08.
07.22
09:09

Oilseeds with Profits

Rapeseed in Paris was up again yesterday. After the price increase on Wednesday of EUR 19.75 per tonne, yesterday it went up again by EUR 9 for the front month northwards. With a closing price of 690 euros, the August date is again just below the 700 euro mark. Oilseed prices also rose on the cash markets over the course of the week. The recovery in rapeseed prices is being supported by vegetable oils overall. The crude oil markets, which are picking up again, also provided tailwind. On the CBoT, soybeans went sharply higher. The lower price level is attracting buyers. The weather forecasts for the large soybean cultivation areas in the US Corn Belt are also supportive. Temperatures are rising and rainfall, when present, is heavy. As a result, many stocks could either get too little or too much water. Soybean meal and soybean oil also increased yesterday, and prices for soybean meal in various qualities have recently picked up significantly on the spot markets in Germany. According to CONAB, Brazil expects slightly lower soybean production in the 2021/22 season. The harvest volume is corrected by 0.2 percent to 124.1 million tons.

Source
VR AgrarBeratung AG
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