Rapeseed and canola with losses

The recovery in rapeseed was short-lived. The contracts on Euronext/Matif went south yesterday. The new front month of May 24 closed with a setback of 5.75 euros at 422.50 euros/t, following the weak guidance from ICE and the soy complex. In Winnipeg, the March contract closed at Can$601.20/t, down Can$9.20 per tonne. Converted, the March date in Winnipeg costs 412.96 euros/t. Farmers are increasingly offering their stocks out of fear of a further fall in prices, thereby increasing the fundamental price pressure. In Germany, mills are taking advantage of the recent decline in prices to conclude new contracts. In addition to the requirements, falling crude oil prices also weighed on the rapeseed market. On the other hand, the prices for rapeseed meal are somewhat firmer again. Rapeseed oil in the port of Rotterdam was also able to strengthen somewhat again.

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