It fell by EUR 0.50 per ton yesterday for the front month of February 2023 on the Euronext/Matif. At the end of trading, 556.25 euros per tonne of rapeseed was on the display board of the Paris stock exchange. EU rapeseed imports up to 18.12. have reached a volume of 3.26 million tons in the current financial year and are thus 936,994 tons above the import volume of the previous year. With 2.2 million tons, the majority (67.7%) of the imported quantities come from the Ukraine. Canola in Winnipeg, on the other hand, was able to gain significantly yesterday and benefited from the rising soybean and palm oil prices, as well as from the rising crude oil prices. Converted, the most traded March contract on the ICE in Winnipeg is quoted at EUR 590.36 per ton and thus significantly higher than European rapeseed. Overall, the soybean complex went north at the CBoT. The beans gained double digits yesterday and are still green in premarket trading today. Soybean meal also rallied and was more solid, and soybean oil rallied yesterday. The January contract on the CBoT closed 1.64 US cents higher at 66.05 US cents/pound (1,370.65 euros/t).The declining precipitation area in Argentina was the main reason for the tunaround. While the rains have brought relief, the forecast weather outlook indicates that drought stress for crops will continue. On the other hand, the weather forecast in Brazil is good. The world's largest exporter of soybeans should make up for losses in Argentina thanks to higher acreage and good earnings prospects. The Brazilian harvest begins in mid to late January.
Source
VR AGRICULTURAL
