The slight counter-movement on Friday did not continue at the start of the week on the Paris Euronext/Matif. The contracts lost between 3 and 4 euros per tonne on all dates. The February contract went south by EUR 3.2 to EUR 556.75/t. Prices on the local cash markets are also under pressure. According to traders, rapeseed from the old harvest is only traded a little, if deals are made, the next harvest is traded. Observers expect that the rapeseed stocks have mostly come through the most recent wave of frost in Germany. However, as is so often the case, we will only be able to say and know concrete things at the end of the frost period. Bearish signals for soybean and Canadian canola also put price pressure on the Matif. In Winnipeg, contracts lost significantly more. Soybeans also showed their red side yesterday. As with corn, the current rainfall in Argentina is putting pressure on prices here. At least half of Argentina's soybean stocks are likely to benefit from the recent heavy rainfall. This means that soybean meal is also under considerable pressure.The most traded January date slipped by 13.90 SU dollars/short ton to 449.10 US dollars per short ton (465.35 euros/t). In addition, concerns about the global economy also weighed on the market development yesterday. At 1.619 million tons, weekly export shipments were around 13.8 percent lower than in the previous week, with slight support from an export report from the USDA. A buyer of unknown origin ordered 132,000 tons of beans in the USA yesterday.
Source
VR AGRICULTURAL
