Raps continues to descend

Rapeseed continues its downward trend and lost 3.75 euros/t in the first trading session of the new week, closing at 418.50 euros/t. Demand on the cash markets remains manageable, and the protests yesterday in particular meant that many traders were not even active and logistics were also significantly restricted. In many cases, producers do not seem to be interested in marketing the coming harvest. The offers here are currently low. The development of rapeseed prices is particularly affected by the development of soybeans, which have recently fallen significantly. In particular, the better harvest expectations for Brazil and the country's export potential are having a negative impact. New figures on global rapeseed production are expected next Friday. At 6:00 p.m. ET, the USDA will release its first WASDE of the new year. Canola in Winnipeg showed another loss yesterday. Although more and more traders are betting on a countermovement, this seems unlikely at the moment due to the overall weak market for agricultural raw materials.

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