Rapeseed harvest on target - oil content satisfactory

After the losses of the previous days, rapeseed was able to gain ground on the Euronext/Matif yesterday. The front month of November 2023 closed 6 euros higher at 453.25 euros/t. The follow-up contracts also went north with lower sales volumes. In East Germany, the harvest is mostly over. The yields here are between 3 and 4 tons per hectare with a pleasing oil content of 44 to 46 percent. Very heterogeneous harvest results between 3.0 and 5.0 tons per hectare with oil contents between 40 and 45 percent are reported from western and southern Germany. In northern Germany, an average of 4 tons/ha is reported, regionally also up to 5 tons. Oil levels here range between 42 and 46 percent, with local growers reporting pod splits. Things remain calm on the cash markets. Goods that have not been contracted are usually held back by producers. Price support for rapeseed came from vegetable oils yesterday. Contrary to the trend in soybeans, soybean oil rose, and palm oil was also traded at significant premiums yesterday.

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