Rapeseed and canola with red signs

Rapeseed showed losses on Euronext/Matif yesterday. The most traded front date, February 2024, closed 3.25 euros per ton lower at a closing price of 436.75 euros/t. Compared to the end of October, with the closing bell yesterday, rapeseed prices in the front month were EUR 4.50 lower. Canola in Winnipeg also fell significantly yesterday. The most traded March contract on the ICE slipped by Can$13.60 into the loss zone with a closing price of Can$700.70/t (EUR468.91/t). Falling crude oil prices had a negative impact. The disagreement between the OPEC+ countries regarding production cuts and increased crude oil inventories in the USA have recently caused crude oil prices to fall. The desired ceasefire in the Gaza Strip also calmed the crude oil market. Vegetable oils overall fell yesterday. Both palm oil and rapeseed oil in the port of Rotterdam are quoted lower.

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