The rapeseed prices on the Paris stock exchange ended trading with up to double-digit losses. The front month noted a drop in price from EUR 14.50/ton to EUR 528.25/ton. Canola prices also went south in Winnipeg, although losses remained in the single digits. Above all, the weak domestic currency dampened the decline. The soy complex, on the other hand, continued its price correction significantly. Both the bean and the meal contracts were unable to break away from the bears and recorded significant losses. At the close of the market, the front month reached its lowest level since the beginning of the year. Similar to the corn market, many professional investors sold their contracts, thereby supporting the downward movement. Furthermore, the earnings prospects in the south of the USA (especially Brazil) are depressing the mood to buy, since demand is also falling at the same time and there is also a lack of impetus here. Contrary to the generally bearish mood, crude oil prices rose yesterday. The latest economic data from China gave the market support and gives many market participants hope that consumption there will also pick up again in the coming weeks.
