Rapeseed prices plummet

Contrary to the trend of the last few days, rapeseed fell sharply yesterday. The most traded May contract lost 12.25 euros/t at a closing price of 436.00 euros/t. The follow-on contract for August closed at 446 euros/t, 7.75 euros lower. As reported, the rise in recent days has noticeably increased farmers' willingness to make deals for both the past and the coming harvest. Stocks from the last harvest are now estimated to be low. The fact that rapeseed fell so sharply on the stock exchange in the second half of the day was due to good supply opportunities for oilseeds overall, but also to profit-taking and the isolated opinion that the price increase of the last few days was too high. Canola in Winnipeg was unimpressed yesterday and moved sideways.

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