Oilseed rape prices closed mixed on the first trading day of the new year. While the February and May dates each lost half a euro, the dates of the new harvest were able to increase. Overall, however, the prices for rapeseed increased between the holidays on Euronext/Matif. On December 22, 2022, 573.75 euros/t were quoted for the February date, by the closing bell yesterday it was 583.75 euros and thus 10 euros/t more. Franko Ölmühle Hamburg is currently quoted at 591 euros for rapeseed for delivery in February. Prices for rapeseed oil fob Port of Rotterdam have also improved since the beginning of December. Prices for rapeseed meal have also increased since mid-December. from the Niederrhein station, 374 euros/t are currently being asked for prompt deliveries. Due to the public holiday, soy trading on the CBoT will only start with day trading today (3.30 p.m. CET). Soybeans, like rapeseed, were also able to increase between the holidays and closed on the last trading day of the old year with a daily gain of 10.50 US cents/bu. Soybean meal also rose and was last traded on the CBoT for the March contract at 471 US dollars/short ton (482.44 €/t).US export sales of 705,800 tons, which were published last week, were in line with market participants' expectations. The grain exchange in Buenos Aires recently announced that the area under soybean cultivation is likely to be 500,000 ha less than initially expected. 72 percent of the estimated 16.7 million hectares have now been planted, which is 9 percent behind the average for soybeans over the past five years.
Source
VR AGRICULTURAL
