03.
05.22
09:38

Vegetable oils continue to correct

The correction in vegetable oils continued yesterday. Rapeseed loses significantly on the Matif, the spot market prices - if available, also go down. Canola also fell sharply in yesterday's trading. Soybean oil is down $4.09 cents a pound, joining the broader correction in the sector. Rapeseed sowing in Canada is faltering in the eastern parts of the country and will probably only really pick up speed in a week or two. Soybeans on the CBoT lost double digits yesterday. The strict corona measures in China are putting a strain on the environment because they lead to massive logistics problems. The US acreage could increase in the coming days at the expense of a smaller corn acreage. In Argentina, the harvest is 46% complete. Oil prices were also under pressure to sell yesterday, but were able to recover later in trading.

Source
VR AgrarBeratung AG
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