The high imports and the globally better supply also ensured that the rapeseed contracts on the Euronext/Matif in Paris closed deep red on Friday. The front month of February lost EUR 18.75 per tonne. At the beginning of November, a tonne of rapeseed for delivery in February 2023 still cost EUR 659.75 per tonne on the stock exchange. This contract closed on Friday at EUR 566.75/t and was therefore EUR 93 lower than at the beginning of November. As a result, the rapeseed meal prices on the local spot markets also fell. From the Hamburg station, prices of 333 euros/t were recently quoted for prompt deliveries. However, Canola in Winnipeg was able to catch up on Friday. According to the local statistics office, the canola harvest of 18.17 million tons is lower than many analysts had previously expected. Soybeans, on the other hand, gained ground on Friday. Tailwind for the price structure came primarily from the announcement of relaxed corona measures in China. However, the Biden government's plans for blending biofuels means that soybean oil has recently had to give up sharply. The sowing of Argentina is still well behind. So far, 4.1 million hectares have been cultivated, and an area under cultivation of 17.1 million hectares is planned.
Source
VR AGRICULTURAL
