Rapeseed and soybean under pressure

Yesterday, rapeseed contracts in Paris went south very clearly. The most traded November date lost EUR 14 and closed at EUR 667.25 per ton. According to traders, up to 20 percent of the rapeseed harvest has been brought in in northern and western Germany. The first results show good yields and an oil content that is significantly higher than last year. Up to 6 tons per hectare are harvested on the Lower Rhine. In Brandenburg, at 3.5 t/ha, there are significantly fewer, but better quantities than in the previous year. Soybeans lost significantly yesterday. According to the USDA's publication of the crop report, 61 percent of the stocks are in good or very good condition. Many market observers had expected a more significant drop in credit ratings in view of the heat wave in the USA.