The bearish mood on the rapeseed market only lasted for a short time. The contracts were already able to recover in the middle of the week and some contract dates already reached the 400 mark again in yesterday's trading. The experts at the German Raiffeisen Association are expecting a harvest of 4.3 million tons, which is roughly the same as last year. A slightly higher rapeseed harvest is expected for the entire EU. In US soybeans, the bears could not take the lead for long. In addition to the weather market and the generally uncertain economic situation, many factors are currently affecting the market. Yesterday, for example, the rising oil prices provided bullish impulses. In addition, many market participants had said goodbye to trading as part of the price correction and bought into the prices that were rising again. The export data from the USDA are also eagerly awaited today. Although good figures are expected, the favorable offers from Brazil, among others, are causing difficulties in export business. The oil prices for oil from the North Sea (Brent) and for oil from the USA (WTI) rose again slightly yesterday and thus also supported the price development on the soybean market.In particular, the discussion about the current financial situation in the USA seems to have calmed down and is allowing business to pick up again.
ZMP Live Expert Opinion
On the markets for oilseeds, the focus is particularly on the weather, as it is on the grain markets. Even if it currently looks like a good harvest both in the EU and in Brazil, this can change quickly with unfavorable weather conditions. The end of the debt discussion in the USA is in sight and is thus ensuring more trading on the stock exchange. Here, too, it is difficult to find a clear direction. It remains exciting.
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