Rape picked up yesterday. In Paris, the front month of November closed with a closing price of EUR 627.75/t, EUR 4.50 higher than on Tuesday. According to estimates by the International Grains Council, Canadian canola production this year is likely to be around 19 million tons despite reduced acreage. Better yields per hectare after the drought year 2021 are responsible for this. Canada should therefore be able to deliver again this season. Rapeseed, canola and soya are also receiving support from the crude oil markets, which are picking up again slightly. Palm oil in Malaysia was also up recently, hitting a 7-week high yesterday. The soybean changed sign color several times during the course of the session, but then traded sideways with modest gains at the close. The soybean harvest is a burden on the one hand, as it is progressing very well and quickly. On the other hand, higher soybean oil prices and the prospect of export demand picking up in the near future are supportive.
Source
VR AGRAR
