While Canola was able to gain slightly on the ICE in Winnipeg after a volatile course of the day, Raps on the Euronext/Matif also went down on Friday. Over the entire last week of trading, the leading November date in Paris lost EUR 27.50 per tonne. The estimate of the trade association Coceral, which estimates the EU rapeseed harvest at 19 million tons, caused pressure. In addition, the sowing conditions for the next rapeseed harvest have improved significantly in large parts of Europe due to precipitation. The areas planted early are benefiting from the rain showers and can get off to a good start thanks to the mild temperatures. Seed sellers report that the acreage should again increase significantly due to their sales. Soymeal and soybeans fell into the weekend. The beginning of the US harvest is putting pressure on, as is news from Argentina that farmers are currently very willing to sell their stocks. Compared to August of the previous year, slightly more soybeans were processed in the USA in August 2022. However, at 165.5 million tons of soybeans, the processing volume is still slightly smaller than the analysts had previously estimated. Pre-market, the beans are showing a green sign today.
Source
VR AgrarBeratung AG
