After the significant increase on Monday, rapeseed prices went south yesterday. The most traded February contract closed at EUR 637.25 and a daily loss of EUR 7.75/t. The cash markets showed firmer tendencies yesterday. Yesterday 655 euros/t were quoted franco Mannheim, 660 euros in Neuss and 643 euros/t carriage paid to the oil mill in Hamburg. However, the producers are still very cautious in their willingness to sell and offer only a few goods on the market. Canola also went south on the ICE in Winnipeg. Here, the most traded January contract lost 14.40 CAN dollars and closed at a price of 866.80 CAN dollars (639.41 euros/t), roughly the same price level as its pondon in Paris. Soybeans rebounded yesterday after Monday's very sharp corrections. The majority of the opinion prevailed that the correction on Monday was too clear in view of the fundamental framework conditions. Strengthening export demand supported performance yesterday, as did heavy rainfall in parts of the Midwest, which is likely to disrupt the soybean harvest for a few days. However, according to the USDA crop report, around 80 percent of the soybean harvest is currently in.Overall, however, the interruption should not affect the generally rapid soybean harvest. On average over the last five years, 67 percent of the stocks had run in at this point. Domestic logistics in the USA continue to be problematic.
Source
VR AGRAR
