Rapeseed and canola breathe a sigh of relief

The signs for rapeseed on Euronext/Matif were green yesterday. For the front month of February, the trading volume rose by 4.50 euros to 423.00 euros/t with a relatively manageable trading volume. The contracts thus followed the friendly guidance of the soy complex and yesterday's recovery in crude oil futures. Brent gained $1.19 to $77.52 a barrel. But developments in soybean oil and palm oil also provided slight support yesterday. Canola on the ICE in Winnipeg was able to close with a green sign for the first time this year. The quiet start to the year continues on the local cash markets. The prices have recently remained unchanged and are to be understood more in nominal terms. Rapeseed meal was usually able to give in again at the beginning of the week. Rapeseed oil in the port of Rotterdam lost significantly yesterday and was quoted at 875 euros/t. At the end of last week it was still quoted at 900 euros/t.

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