After a brief breather, oilseed prices for rapeseed and soybeans are on the rise again. Adverse weather conditions in the flowering phase of rapeseed and dry regional sowing conditions for soybeans in the USA are causing the high harvest expectations to shrink. The armed conflict in Ukraine is having a negative impact on the oilseed harvest and is also causing uncertainty in transportation. The palm oil and crude oil markets are also having a price-supporting effect. In view of the already high price level, the upward scope for prices will be limited. The usual price ratio of wheat to rapeseed of 1 to 2 has already been exceeded.
ZMP Live Expert Opinion
The oilseed market is being dragged along by developments in the grain sector. In addition, there are supporting factors due to weather-related adverse effects on the coming rapeseed and soybean harvests.
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