Ölsaaten News, 09/01/2023

Raps has found his way back on track and has recently appeared stronger again. Even with the start of trading today, Euronext/Matif shows friendlier and rising trends for oilseeds. Prices on the cash markets have recently been weaker due to mills' low willingness to buy. Rapeseed meal tends to be stable to slightly weaker. The harvest has begun in Canada. Currently around 10 percent of the holdings are said to have been brought in. Statistics Canada recently revised the rapeseed harvest downwards. 17.6 million tonnes are expected to be harvested here, around 1.1 million tonnes less than in the previous year. The Federal Ministry of Agriculture has reported a rapeseed harvest of 4.2 million tons for Germany. This means that around 3 percent less was harvested than in 2022. The first cultivation estimates for the coming harvest are likely to come soon. Soybean prices increased this week. Hot temperatures in the Midwest and the Corn Belt in particular have boosted prices. Because of a public holiday on Monday, there was a lot of profit-taking yesterday. Today, soy is trending higher again as the trading session opens.While Brazilian sales have developed less dynamically than was previously reported by the industry association Anec, China is particularly interested in US beans. For five days in a row, the USDA reported flash sales of over 100,000 tons and the weekly export sales released yesterday were also very solid. Soybean meal prices also rose this week. This also had an impact on prices in Europe. Soybean meal at the wholesale level became more expensive throughout Germany.