Good export figures support canola

Weak guidance from the soy market on Thursday also dragged rapeseed down on the last trading day in March. The most traded front month of May closed at EUR 438.00 per ton, EUR 3.50 weaker. Yesterday and Friday, trading in Paris was closed due to the public holiday. The cash markets also showed somewhat weaker trends at the wholesale level at the end of last week. In Hamburg, rapeseed for delivery in May fob oil mill is quoted at 439 euros/t. As in the last few weeks, trading itself remains manageable. Rapeseed meal remains in short supply, but futures prices on the cash markets indicate that price expectations will fall over time. Trading started again yesterday in Winnipeg. Canola was able to develop in a friendly way. This development was supported by good export shipments. According to the Grain Commission, 245,000 tons of canola were loaded for export in the last week up to March 24th, doubling the previous week's value.

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