Rapeseed oil prices are rising

Rapeseed was quite volatile yesterday, but was unable to close with a green sign at the end of the trading day. The front month of February closed with a loss of 0.25 euros/t at 440.00 euros per ton. The daily high was 442.25 euros, the daily low was 436.25 euros/t. The negative conditions from the soy market in particular had a negative impact. This was clearly under pressure to sell due to better weather prospects for the soybean harvest in Brazil. As a result, Canola also closed on the ICE in Winnipeg with significant losses. The decline in rapeseed was limited by rising rapeseed oil prices. Yesterday, rapeseed oil in the port of Rotterdam was quoted 10 euros higher than the previous day at 945 euros/t. Palm oil also posted gains yesterday for the third trading day in a row, giving local vegetable oils a tailwind. The cash markets in this country are also showing rising rapeseed meal prices this week. For the Weser-Ems region, for example, a sales price of 3 t ex warehouse is reported as 35.15 euros/dt, whereas the previous week it was 33.35 euros/dt. Supply is currently tight, especially for short-term deliveries.

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