Rapeseed evades the requirements of the soy market

Rapeseed can also increase in price on the second trading day this week. The front month of May 24 closed yesterday with an increase of 3.25 euros at 425.00 euros/t. The recent price decline last week caused the mills to increasingly search for free quantities. However, quantities actually traded remain manageable. The EU Commission did not publish current import figures this week either. Technical problems are cited as the reason. Canola also closed a little higher yesterday, but remains below the 600 Can dollar/t mark. However, as of July 2024, the contracts on the ICE in Winnipeg will still be trading above this mark. Rapeseed prices are currently being supported by further rising crude oil prices. Brent rose yesterday by $0.63 to $82.59/barrel.

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