Ölsaaten News, 08/04/2023

The Euronext Raps ended another day of gains yesterday. For the front month of November, it went from EUR 15.25 per ton to EUR 459.75 per ton. The Union for Promotion has published new figures on German rapeseed meal exports. According to the analysts, these amount to around 1.5 million tons for FY 22/23. The result is thus below the previous year's level (-4%) and marks the lowest value for more than four years. The target countries of the export business were mainly within the EU and accounted for 13 million tons. The Netherlands, in particular, imported oilseed from Germany, followed by Denmark. The French and Spaniards booked significantly fewer, which was mainly due to the greater self-sufficiency of the countries. In Winnipeg, canola contracts continued to fall this trading week. Shortly before the weekend, however, they were able to turn the tide and took small profits yesterday. Above all, investors used the price correction of the last few days to position themselves on the market again. The soybean complex got back on track after the brief setback yesterday and gained modestly over the trading session.The September date gained $5.50 US cents/bushel and thus costs the equivalent of 463.57 euros per ton. The development is supported in particular by the solid export business. According to the USDA, these totaled 2.7 million tons in the week ended July 27, in line with market participants' estimates. The USDA also confirmed a new deal for 132,000 tons. The gains were slowed down by the further easing of the weather situation. For the coming days, the meteorologists expect less heat and precipitation. This increases the hope that plants will develop well during this important growing season.