Rape fell yesterday on the Matif. With a closing price of EUR 600 per tonne, the oilseed is not only listed below the level carried forward, the contracts are also weaker on a weekly basis. Prices on the cash markets have also recently declined. In Straubingen, for example, prices are already below 600 euros/t, in Hamburg the prices are still above this mark. Sowing rapeseed for the next harvest is slow and late. However, the recent rainfall could boost the sowing speed in Germany towards the weekend. Soybeans on the CBoT edged up yesterday. Technical buying supported the recently weak market. In addition, traders are increasingly positioning themselves for WASDE on Monday. The majority of analysts expect in advance that the harvest prospects will be revised slightly downwards. The government measure in Argentina is apparently having an effect. Since Monday alone, farmers have parted with 3.1 million beans there, which is a fivefold increase compared to the previous week.
Source
VR AgrarBeratung AG
