Rapeseed meal is becoming scarcer again

The signs for rapeseed are positive at the start of the week. The May contract on Euronext/Matif rose by 3.75 euros to 421.75 euros/t. Later contracts also closed more favorably, although the gains here were more manageable. Friendly guidelines from the soy complex and rising crude oil prices were able to support rapeseed. But better demand from the oil mills also has an impact. Canola in Winnipeg also had a positive start to the new week yesterday, rising by Can$2.60 to Can$591.00/t, but still remains below the $600 mark. Demand has also picked up in Canada, with processors increasingly demanding goods due to falling prices. Rapeseed meal on the local cash markets is trading somewhat more strongly again. Regionally, supply has become noticeably tighter, especially for short-term deliveries. At the same time, farmers and industry are increasingly demanding goods because of the lower prices compared to December. A lack of shiploads from important export destinations is cited as the reason for the limited availability. Rapeseed meal is in short supply, particularly in northern Germany.

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