Rapeseed increases by 3.75 euros/t

The February 2024 front date rose yesterday by 3.75 euros/t to 445.50 euros/t. The follow-up contracts also went north. Effective trade still hardly takes place in Germany. Oil mills continue to show little demand, especially in the short term, and most buyers' books are closed for 2023. Farmers also have little interest in selling their stocks. Many are hoping for attractive prices. The field stocks have recently developed well. Yesterday's snowfall in many regions is unlikely to have any impact on the quality, as they are already well developed and are now going into winter rest. Support for the rapeseed price development comes from Canada, where canola contracts continued to increase. The rising prices for soy and crude oil are also providing tailwind for rapeseed trading on Euronext/Matif.

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