Rapeseed oil prices firmer - rapeseed on the Matif unchanged at the start of the week

There were no clear trends on the rapeseed market yesterday. The November date closed just as unchanged as the now most traded February contract. The latter closed unchanged at 444 euros/t. For later dates, things went slightly south with low sales volumes. This was also due to a lack of specifications from Canada, where trade was paused due to the Thanksgiving festival there. In pre-market trading this Tuesday, the contracts on the ICE in Winnipeg are trending red again. Trading on the cash markets remains subdued due to the uncertainties caused by geopolitical tensions on the Black Sea and in the Middle East. The prices for rapeseed were slightly weaker yesterday, and rapeseed meal prices fell at the start of the week. Rapeseed oil, on the other hand, was able to stabilize in the last week. The national average for rapeseed oil fob mill is currently 1,050 euros/t, which is around 100 euros per ton more than a week ago. Rapeseed oil prices have also recently increased in the Netherlands. Recent increases in crude oil, production prospects in Australia and the weaker euro have given prices a boost.Demand has also been higher recently, causing prices to rise; the supply of rapeseed oil is described as becoming increasingly scarce.

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