Rapeseed firmer

Raps is also trading more firmly at the end of the week. The most traded front month, November, increased by 4.75 euros/t and closed the trading week with a settlement of 473.50 euros/t. The prices benefit primarily from the reduced harvest prospects in Canada and the generally friendly market environment for vegetable oils. The sowing of the 2024 harvest has been completed in most regions of the Federal Republic. For the most part, rapeseed growers were more satisfied with the sowing conditions than last year. Initial estimates assume that the area under rapeseed cultivation in Germany will remain unchanged compared to the previous year. Canola also closed a little firmer on the ICE, and the weather forecast here remains dry. Today the ICE in Winnipeg will be closed due to a public holiday and will not provide any stimulus for European stock trading.

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