Despite the weak soybean complex, rapeseed futures continued to gain ground in Paris on Friday. The front month of August saw a gain of EUR 4.75/tonne to EUR 785/tonne. On the Winnipeg Stock Exchange, on the other hand, canola contracts went south. Above all, the reported precipitation could ease the drought situation in the coming days and caused selling pressure. The soybeans on the CBoT came under significant pressure just before the weekend and had to give way significantly. Meal contracts were unimpressed and increased. Profit-taking and technical selling in particular were responsible for the price correction after the futures had scratched an all-time high again last week. The USDA cut the US ending stocks to 205 million bushels (-13%), the world stocks are said to amount to 100.46 million tons. The forecast production was increased by 700,000 tons to 395.4 million tons.
Source
VR Agrarberatung