Raps with friendly omens

In the absence of specifications from the soy complex, rapeseed contracts on Euronext/Matif rose yesterday. The most traded February contract rose by 3.25 euros/t to 422.25 euros/t. The follow-up contract in May also started the new trading week with green signs and closed at 425.00 euros/t. New import figures from the EU Commission are expected for today. Most recently, the import volume of rapeseed was significantly lower compared to 2022/23. By January 7th, 2024, 2.84 million tons of rapeseed had been imported, compared to 3.96 million tons the previous year. Rapeseed meal imports are higher compared to the previous year. Up to this point, soybeans had been imported into the EU-27 at roughly the same level as the previous year; soybean meal imports were around 1.1 million tonnes behind the volume of the previous year. Canola also rose slightly yesterday on the ICE in Winnipeg. Icy roads and very cold temperatures have significantly restricted effective trade. At the start of today's trading day, there is once again a slightly positive price development in the contracts on Euronext/Matif.

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