The rapeseed contracts in Paris started the new trading week with losses. The front month of February 23 lost 7.25 euros/t and closed yesterday at 603 euros/t. In its November assessment, the forecasting service MARS assumes that the rapeseed stocks in the fields have survived the unusually warm October well and have benefited significantly. According to the agency, the winter oilseed rape stocks have developed very well for the most part, but also make the plants particularly susceptible to frost and pest infestation. The Australian Oilseed Association estimates the country's production this season at 6.4 million tonnes. In its November WASDE, the USDA had calculated 6.8 million tons for the country in the southern hemisphere. The harvest there is still ongoing, but there are many indications, according to the association, that Australia should not lose any of its export potential. Yesterday, soybean prices continued to recover on the CBoT. Despite the rising corona numbers in China and the strengthening US dollar, most traders are of the opinion that the downward corrections last week were not justified due to the fundamental framework data and were too severe.Additional support came from US export shipments released yesterday. Accordingly, until 17.11. 2.32 million tons of soybeans shipped into US ports, up nearly 19% from the previous week. There is still no course-changing news from the drought in Argentina. Rain showers are still missing.
Source
VR AGRICULTURAL
