Rapeseed and canola are still in reverse gear and didn't find a snag yesterday either. In Paris, the May date fell by 12.75 euros/t, at the end of the trading day the closing price was 441 euros/t. EU imports continue to be dynamic, until 19.3. In the current marketing year, 5.87 million tons and thus around 54 percent more rapeseed were imported into the EU. The Ukraine remains the largest supplier, but the volumes from Australia are also increasing. Canola on the ICE in Winnipeg fell to $729.40 per tonne (EUR 494.49/t) yesterday, marking its lowest level since 2021. The significantly declining prices on the Matif are also reflected in the cash markets. This also applies to rapeseed meal, which has recently been quoted lower. Announced rain showers in Argentina and Brazil caused soybean prices to fall sharply on the CBoT yesterday. The May contract fell by 19 US cents to 1,467.00 US cents/bu (500.45 euros/t). In addition, the analysis company Agroconsult increased its production forecast for Brazil by 2 million tons to 155 million tons. The outlook for soybean exports has also been upgraded. As a result of falling soybean prices, soybean meal also went downhill.The May date closed at $460.60/short ton (EUR 472.54/t) and soybean oil was also listed weaker. On the spot markets in Germany, soybean meal prices have also recently fallen.
Source
VR AGRICULTURAL
