For rapeseed it went down again yesterday. The contracts fell below the EUR 600/t mark on all delivery dates. Since the beginning of the month, the most traded February date has lost 71.50 euros per tonne. Along with news that Ukraine's grain corridor will be extended by 120 days, price declines in competing vegetable oils also put pressure on rapeseed in Paris and canola in Winnipeg. There, on the ICE in Winnipeg, Canola is now trading at its lowest level in over a month. Yesterday at the EuroTier 2022 in Hanover, a representative of Ukraine said that the rapeseed and sunflower deliveries from Ukraine in the EU have now reached the previous year's level again. Oil mills in Europe are currently stocking up more and more with Ukrainian goods in order to prevent imminent delivery failures as the war progresses, they say. The soybean complex also came under selling pressure yesterday. Beans, oil and grist gave way. The US markets are concerned about the future of the export business. Although China has announced that it will relax certain corona measures, comparatively high numbers of infections have already led to strict regulations in many important cities.Abundant rainfall in Brazil also had a price-lowering effect on the soybean trade. On the downside, the price decline was capped by better-than-expected US export sales last week. The warning from the Argentine grain exchange about the significant shrinking of soybean acreage in the country also had the effect of limiting losses.
Source
VR AGRICULTURAL
