Oilseeds in the wake of weak grain markets

Yesterday, after reaching a new record high, the Euronext rapeseed went south again. The front month closed at EUR 3.0/ton to EUR 899.50/ton. Soybeans on the CBoT also ended trading in the red yesterday. The bearish indications of the grain markets in particular drew the oilseed under its spell and caused red numbers. In addition, the news that China might not be able to fulfill the import deal for 94 million tons dampened the mood. Meanwhile, 89.281 million acres are expected to be planted in the US, just above the USDA's forecast. The result of the previous year was also exceeded (87.195 million acres).