Oilseed news, 03.07.2020

The trading week for rapeseed futures started on Matif with a green sign. First crop assessments from Saxony-Anhalt disappointed the growers. Emergency maturity has already started in many places. After prices went down again somewhat in the middle of the week, the prices started again on the last trading day with slight gains. Overall, the rapeseed market in Germany is rather cautious. Different price expectations of buyers and sellers prevented that deals were made. While harvest expectations are currently higher than last year, they are still below the average of recent years. Uncertainty among the producers means that there is little willingness to sell and as long as the mills can still import enough goods from abroad, impulses will probably only come again with the new harvest. In Winnipeg, the Canola futures also saw slight gains. Soy also lost some of its strength yesterday after having increased significantly in recent days and benefiting from the general upward trend.The results of the USDA quarterly report published on Wednesday were a relief because, contrary to fears that areas intended for corn were now being planted with soy, were not confirmed. However, the good weather outlook for the Great Plains and the Corn Belt continues to have a negative impact. The export quantities are currently 241,500 tons. Soybean processing in the United States fell contrary to expectations to 179.5 million bushels. Compared to April, this is a decrease of 2.1%. 841,650 tonnes of the new soybean harvest have already been sold, which was above dealer expectations. The combined sales are now 254 million bushels. The main customer is China.