Rapeseed remained true to its trend yesterday and fell accordingly. At the closing bell, the daily loss was 6.75 euros/t in the May contract, which closed at 560.00 euros/t. The pressure on vegetable oils continues overall. Canola was also under pressure yesterday, but was able to stay afloat with a small plus at the close thanks to the good indications for soybeans. Above all, the prospects of a slowdown in export business to China are depressing the mood here because of the corona situation there. On the local spot markets, rapeseed went further south. Franko Ölmühle Hamburg is currently reported at 556 euros/t, in Straubingen 551 euros/t was last quoted. After the long weekend, soybeans gained in trading after initially falling. Good export figures drove up prices, as did the lack of rain in Argentina, which had actually been predicted. As the Brazilian authority Conab announced, the record harvest in Brazil could mean that the country's storage capacities are insufficient. The situation is likely to become critical, especially at the peak of the harvest.Soybean meal gained $4.90 in the March contract yesterday to close higher at $481.20/short ton.
Source
VR AGRICULTURAL
