Rapeseed continues to be under pressure

Rapeseed remains under pressure, but was able to gain some ground again on Friday. The front month of November increased by 1.75 euros/t to 426.25 euros/t. The February contract, which is now traded somewhat more frequently, closed 0.50 euros higher at 444 euros/t. On a weekly basis there remains a significant minus. The November contract still cost 442.50 euros/t on Friday last week and has therefore lost 16.25 euros per ton in the last trading week. The competing vegetable oils also caused volatile trading in European rapeseed. Palm oil lost ground, soybean oil showed green signs on Friday and crude oil also gained slightly again after last week's clear downward trend, thus providing a slight tailwind. In Canada, the harvest is mostly over and is therefore no longer having such a strong impact on prices, but canola fell on Friday against the backdrop of losses in soybeans. No stimulus is expected from Canada today. The stock exchange there remains closed due to the local holiday “Thanksgiving”.

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