Selling pressure for rapeseed was evident again yesterday. Post-harvest volatility remains. Even higher crude oil prices cannot provide any support for rapeseed contracts or soybeans yesterday. The rural people of Lower Saxony are more than satisfied with the rapeseed harvest. While the national average was 3.7 t/ha from the fields, the figure between the North Sea and Harz was 4.3 t/ha. On the cash markets, rapeseed prices also fell a little yesterday. Franko Ölmühle Hamburg is currently quoted at 621 euros/t. In Straubingen, 616 euros/t are called for. The soybeans also lost in trading yesterday, but are again showing green signs in pre-market trading this morning. First and foremost, the correction for the beans is technically justified. However, the uncertainty about the possible yields and the further development of the weather is limiting the price decline. The USDA was late to release weekly export figures yesterday, but market participants have serious doubts about the figure, which came in at 4.69 million tons, four times what the most optimistic analysts had previously expected.
Source
VR AgrarBeratung AG
