06.
11.23
09:22

Rapeseed oil prices are firmer

The February contract on Euronext/Matif rose significantly over the weekend. At the end of the trading session there was an increase of 9.25 euros/t on the Paris Stock Exchange display board with a closing price of 445.00 euros/t. This also shows a firmer development over the entire last trading week. On Friday of the previous week, the February contract was still trading at 438.75 euros/t. Even though little has changed in the basic conditions of the rapeseed market, prices were able to benefit above all from bullish input from the overall agricultural market and from the financial markets. Canadian authorities on Friday released an export volume for the week of 275,900 tonnes. After recently somewhat weaker figures, this weekly report represented the best value since December 2022 and thus gave Canola the appropriate tailwind. On the other hand, the price development for vegetable oils caused a price damper. Both palm oil and soybean oil were weaker on Friday. On the other hand, rapeseed oil prices have increased somewhat in the last few days.FOB Rotterdam port is currently quoted at 915 euros/t for rapeseed oil deliveries in December, which is significantly less than was quoted at the beginning of October, but also 15 euros per ton more than at the beginning of the week.

Source
VR AGRICULTURE
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