Rapeseed will be sold inconsistently on Thursday. While the front month increased by 6 euros per tonne to 809.75 euros, things are going south for the other delivery dates. This is primarily due to late-afternoon profit-taking in both rapeseed and soybean. On the cash markets in Germany, there is often no rate for prompt delivery. Buyers and sellers are waiting in view of the current situation. Vegetable oils as a whole were marked by setbacks yesterday. Soybean oil slipped 1.06 US cents/pound, as was palm oil in Kuala Lumpur. Vegetable oil buyers are certainly worried about the supply situation. While 50% of EU rapeseed imports come from Ukraine, the figure for global sunflower oil is already 80%. Soybeans were volatile in yesterday's trading day, prices initially continued to rise, driven by the war, and profit-taking began in the afternoon. Rainfall in Argentina raises hopes that the soybean harvest could be a little better, although only crops planted very late are likely to benefit.Pre-market, the soybeans are showing losses of 0.70% in the most traded May date today (9:16 a.m.). The May contract for soybean oil is down around 3.58% from yesterday at 72.13 US cnets/pound. Soybean meal, on the other hand, is showing premiums today.
Source
VR AgrarBeratung AG
