On the last trading day of the past week, the rapeseed contracts stopped their price decline and recovered to 629.50 euros/t in the front month of November. The cash markets in Germany continue to show low turnover and volatile price quotations. Franko Ölmühle Hamburg is currently being asked for 629.00 euros/t, in Straubing 624.00 euros/t and in Rostock 627.00 euros/t. Rapeseed meal, on the other hand, is unchanged for short-term deliveries, later deliveries from November are mostly weaker than on Thursday. Sunny and dry weather is forecast for Canada and should therefore accelerate the harvest again. In the Canadian state of Maitoba, on the other hand, late frosts are already endangering crops that have not yet been harvested. Soybeans were able to gain again on Friday. The recently lower soy price level is attracting more and more speculative investors to the CBoT. The increased crude oil prices provided additional impetus, despite the fact that the soybean harvest in the USA is in full swing. However, US exporters continue to worry about demand from China. Rumors are circulating that Chinese soybean imports could hit a two-year low in October.The strong US dollar and concerns about the global economy are weighing on market participants' export fantasies and are thus keeping profits in check. Soybean meal was also up on Friday, gaining 1.4% to 1.9%. Cash market prices in Germany are also firmer. Pre-market signs are green for both soybeans and soybean meal.
Source
VR AGRAR
