The rapeseed on the Matif was inconsistent but stable yesterday. The most traded November date increased by EUR 1.25 per ton to EUR 673.50/t. In its fifth harvest estimate, the German Raiffeisen Association revised the German rapeseed harvest slightly downwards. On the cash markets, the nationwide average has seen slightly firmer prices in recent days. Market observers point out that demand from the energy sector has recently become somewhat livelier and more dynamic. The soy complex, on the other hand, showed its red side again yesterday. The development of demand for soybeans and soy products continues to be viewed critically. The decline in crude oil is also affecting soybean prices. US export sales for the last few weeks show sales of 362,900 tons. This not only fell short of market expectations, it also represents a low for the year. The balance sheet was burdened primarily by cancellations amounting to 580,000 tons. Today, the US Oilseed Processors Association is releasing monthly throughputs. Analysts expect processing could fall to nine-month lows. Pre-market, the eCBoT showed weaker bean prices at the moment.
Source
VR AgrarBeratung AG
