Vegetable oils drive rapeseed

Yesterday, rapeseed rose by a significant 11.50 euros to 452.25 euros/t. The follow-up contracts from Euronext/Matif were mostly able to gain slightly higher premiums compared to the leading November date. In particular, the international environment for vegetable oils and especially the rally in crude oil ensured that rapeseed prices were able to develop more firmly. Brent and WTI rose significantly yesterday, giving soy, corn and also rapeseed and canola a boost. In Canada, the statistics agency announced processing figures for August. With 829,000 tonnes of canola processed, a third more was processed than in August of the previous year. It is currently raining in the northern growing areas and the rainfall is slowing down the harvest regionally, but in the southern areas of the prairie it remains dry and the farmers are making good progress. Canola gained 11.90 Can dollars to 726.10 Can dollars/t (511.76 euros/t). Palm oil recorded its strongest price increase in six weeks.

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