Rapeseed prices drop - harvest just before the start

Rapeseed was also in the red on Friday and ended the first trading week of the new month in the November contract with a minus of 3.25 euros/t and a closing price of 448.25 euros/t. On a weekly basis, the November date is therefore valued 8 euros/t lower. The rapeseed prices on the cash markets also follow this trend and rapeseed meal has also become somewhat cheaper on a weekly basis. The current precipitation and the still high expectations of European production are just as bad as the international environment for vegetable oils. Canola on the ICE also gave way on Friday because high temperatures were still forecast for the weekend, but thunderstorms with extensive precipitation were also on the radar. Palm oil was also under selling pressure recently, as was the soy complex. The forthcoming harvest work is already casting its shadow. Overall, something like harvest pressure can already be felt, particularly on the cash markets.

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