For the second day in a row, rapeseed contracts on Euronext/Matif increased. Yesterday, Tuesday, the signs were green, the front month February gained 2 euros to 569.75 euros/ton. Support from rapeseed basically comes from the soy complex. Nevertheless, the clearly falling crude oil prices and the harvest prospects in Australia limit the price development of oilseed. At the end of November, the EU Commission again updated its harvest estimate for rapeseed for this season, but made hardly any corrections. It is expected that 19.41 million tons of rapeseed were taken from the fields across the EU. EU rapeseed imports up to 4.12. have reached a volume of 3.10 million tons and have thus recently been far less dynamic. Soybeans on the CBoT again rose sharply yesterday. Among other things, other reports from China ensure that further measures are relaxed. Among other things, the passenger trains between the individual parts of the country should be easier to use. Two USDA export reports also provided significant support for the price trend. A customer from China bought 264,000 tons, another 240,000 tons go to an unknown destination.Soybean meal also rose in price yesterday and climbed to SU$448.60/short ton (EUR 471.42/t) in the January contract. This development can also be seen recently on the German cash markets.
Source
VR AGRICULTURAL
