Rapeseed and soy have a strong start into the new week

Rapeseed and soy have a strong start into the new week. Rapeseed for November increased to EUR 622.75 per ton. Tailwind came mainly from the soybean complex and the crude oil market. The latter has recently recovered significantly. Rapeseed prices are also increasing on the cash markets. In Hamburg, prompt delivery carriage paid to the oil mill is quoted at EUR 601.00/t, in Straubigen EUR 596/t. Canola in Winnipeg also started the new trading week with a green sign. The weather forecast in the Canadian prairies is positive for the plants. Rain has been reported for the next few days, but it should be very hot again by the weekend. Soybeans recovered very sharply again yesterday. US soy exports are at an exceptionally high level for this time of year. China remains the main buyer of US beans. After the market closed, the US Department of Agriculture also released updated condition assessments. 57 percent of the holdings are in good or very good condition. That means a drop of 1 percent compared to the week. Soybean meal prices rose in spot markets yesterday.