Rapeseed: Volatile but unchanged

The rapeseed trade was volatile yesterday. The leading February contract was traded in a trading range between 441.00 and 448.50 euros/t throughout the day, but at the closing bell there was an unchanged price of 445.00 euros/t on the Euronext/Matif display board Subsequent contracts closed the first trading session of the new week slightly to marginally stronger. Positive inputs from the soy market and Canadian canola were unable to move European prices into the green zone. Market activity on the cash markets remains calm and is expected to remain impulsive as the week progresses. Farmers remain cautious about their willingness to sell, oil mills are very well supplied and, for short-term needs, cheaper quantities from the Baltics and Ukraine are also available on the market. However, rapeseed meal prices can increase. On a weekly basis, the federal average rose by 3 euros/t. Meal prices benefit primarily from the development of soybean meal. This is also a direct result of last year's lower soybean harvest in Argentina.As statistical data shows, the GHG quota has a positive effect on the consumption of biodiesel; the consumption of biodiesel and HVO increased in the first eight months of the new year.

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