Rapeseed rose again significantly on the Euronext/Matif yesterday and repeatedly tested the EUR 650 mark in the front month, but was unable to reach it. The other dates this season are already trading above this mark and prices are also rising significantly on the spot markets. Rapeseed meal is also becoming more expensive on the cash markets in this country. In Canada, the canola crop continues to perform well. Harvest weather is good again this week in the vast majority of growing areas, keeping canola price increases in check. Soy rose again yesterday, despite the fact that the private analysis company StoneX estimated the US soy crop in the current season to be higher than before. The US soybean harvest is now 22 percent in, which is about 3 percent below the average for the last few years at this point. The fields that are still standing are rated as good to very good with 55 percent. At 4.3 million tons, Brazil's soybean exports in September are around half a million tons lower than in September 2021. Soybean meal fell slightly yesterday and the local spot markets also showed slight declines in soybean meal at the beginning of this week. The oilseed markets are looking forward to the OPEC+ meeting today.The majority of the market is expecting a production cut, which is why Brent and WTI also rose again.
Source
VR AGRAR
