There was no recovery in rapeseed yesterday either. The contracts lost across all maturities. The May contract fell by EUR 2.50 per tonne to a closing price of EUR 482.75 per tonne. On the other hand, Canola lost more clearly on the ICE in Winnipeg, where it fell by 10.20 Can dollars to 757.50 Can $/tonne (515.45 Euro/t) southwards. As the Union for the Promotion of Oil and Protein Plants announced yesterday, biodiesel consumption in Germany fell in 2022, while total fuel consumption (diesel and petrol) remained constant. As a result of the declining spot and stock exchange prices, the willingness to sell in agriculture is increasing, oil mills, on the other hand, are reluctant to buy, so that there are hardly any deals worth mentioning. Significantly fewer rapeseed volumes were imported into Europe last week, the total count is now 5.75 million tons compared to 3.66 million tons in the previous year. As reported, deliveries from Australia in particular are likely to increase significantly in the near future. The soy complex gained slightly yesterday. Both soybean oil and meal sold firmer. Soybeans also gained slightly.The still pessimistic estimates for Argentina provided a boost. The first voices are only assuming a soybean production of 25 million tons. The grain exchange in Buenos Aires had recently predicted 29 million tons. In Brazil, farmers continue to make better progress with harvesting work. It is reported that around half of the soy stocks have been brought in. At the same time, soy exports from the South American country are increasing significantly. Last week the USDA forecast a soybean harvest for Brazil of 153 million tons, a private analysis company published an estimate of 148.96 million tons yesterday. Even with this forecast, the previous year's harvest result would be exceeded by around 18 percent.
Source
VR AGRICULTURAL
