The rapeseed prices were able to close the trading week on Friday with significant gains. The May contract increased by EUR 11.25/t and closed at EUR 564.50. This means that the contract is EUR 11.50 higher than on Friday the week before last. In particular, positive indications from vegetable oils helped rapeseed to rise in price. Canola in Winnipeg also rose, albeit modestly. Although Canadian canola exports fell slightly compared to the previous week, they are over a million tons higher than last year. On the cash markets, the prices for rapeseed have been constantly up and down, but have recently been weaker. Rapeseed delivered to the Hamburg oil mill is currently quoted at EUR 548/t. In Straubingen 543 euros/t are quoted. Rapeseed meal prices remain stable. From the Niederrhein station, 391 euros/ton are currently being asked for prompt deliveries. The soy complex was mixed on Friday. While soybean oil and soybean meal traded lower, beans rose slightly on the CBoT. Overall, however, Friday was characterized by liquidations and profit-taking. The US stock exchanges are closed today due to a holiday.Concerns about the Argentinian harvest are receding into the background among market participants, as it is expected that Brazil will be able to make up for the shortfalls. According to a Brazilian cooperative, the farmers there are currently not inclined to sell their harvests, but are increasingly storing beans. Instead of 25 percent - as was usual at the time - only 5 percent of the forecast crop volume was sold. However, the recent overall increase in soybean meal prices is also reflected in firmer prices on the local cash markets. At the Hamburg station, soybean meal is quoted at EUR 583/t for prompt delivery.
Source
VR AGRICULTURAL
