Yesterday, rapeseed was again unable to match the targets set by the soybean and crude oil markets. In Paris it went down by double digits. All contracts for this crop are now listed below the EUR 600/t mark again. Little has changed on the cash markets in this country. Sales tend to be quiet. Although shipping on the Rhine has eased somewhat, logistics are still a major problem. Rapeseed meal has hardly changed in price in Germany on a weekly basis. There is currently hardly any demand in the short term, but there is lively interest in later deliveries. Soybeans fell yesterday on the back of falling crude oil prices and the bearish environment in the financial and commodity markets. Concerns about the economy play a role here too. The weather forecast for the soybean harvest that is now starting is positive and promises a speedy harvest. US soybean processing volume is down 3 percent mom in August. The analyst estimates were thus far missed in advance. Export sales of 843,000 tons were in line with expectations. Unlike soybeans, soybean meal was one of the few products to gain ground at the CBoT yesterday.The December date climbed $4.90 to $428.00/short ton (equivalent to EUR 470.94/t).
Source
VR AgrarBeratung AG
