Rapeseed is coming off a weaker year

For rapeseed, there were daily losses of 2.75 euros/t in the front month of February 2024 in the last trading session of the year. At the closing bell, a price of 438.00 euros per ton was on the display board of the Paris stock exchange. In December overall, rapeseed fell significantly. On December 1st There was still a price of 450.75 euros/t on the dealer list in the front month. A smaller acreage is expected for the 2024 harvest. The Federal Statistical Office most recently reported the local cultivated area as 1.1 million hectares, which was 54,800 hectares or 4.7 percent lower than in the previous year. The extent to which the heavy rains and floods, particularly in Lower Saxony, have damaged the crops is not yet known. There was quiet trading on the cash markets between the years. However, rapeseed meal prices increased at the beginning of the year.

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