Rapeseed area in Germany is declining

Rapeseed was traded on Euronext/Matif with a slight increase of 1.25 euros/t. At the closing bell, a price of 429.75 euros/t was on the display board of the Paris stock exchange. This meant that rapeseed was once again able to escape the negative demands of the soy market. Fundamental support comes from the continued good demand for rapeseed meal and the prospect that product supplies will likely remain tight in the coming weeks. According to figures from the Federal Statistical Office, the area cultivated for winter rapeseed in Germany was slightly lower than in the previous year. According to this, rapeseed was cultivated on an area of 1.1 million hectares, which is 4.7 percent or 54,800 hectares less than in the previous year. Crude oil prices, which have recently risen slightly due to tensions in the Red Sea, were once again trending yesterday. But tending to be a little weaker today. In Canada, however, Canola went south again. The most traded March date closed with a loss of Can$5.50 at Can$656.30 per tonne, which corresponds to a converted rate of EUR448.90/t.

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