Rapeseed broke away from the negative targets for soybeans and Canadian canola yesterday and was able to gain again. The November date went up by EUR 5.50 to EUR 656.75/t. The prices for rapeseed and rapeseed meal on the cash markets have recently fallen again, but are very volatile, just like on the stock exchange. Producers are currently showing little willingness to sell. In Poland there is a decent rapeseed harvest. The national statistics authority expects a harvest of 3.6 million tons (including turnip rape), which would correspond to an increase of 400,000 tons compared to 2021. The expansion has increased by 8 percent and this year's harvest could be the largest in the last 10 years due to good yields. Soy is dragged down by US politician Pelosi's visit yesterday in an environment of generally difficult financial and commodity markets. In addition, the slightly better soy stock estimates from Monday continue to weigh on. Premarket signs are showing positive signs for soy for the dates between August 22 and August 23 today.
Source
VR AgrarBeratung AG
