Prompt rapeseed meal remains scarce

Rapeseed moved slightly southwards yesterday. Although the current front month lost 5.75 euros/t, the follow-up contracts, including the most traded August futures contract, ended the trading day with minor setbacks. At the closing bell, the August contract closed at 40.25 euros/t on the Euronext/Matif scoreboard. This corresponds to a daily loss of one euro per tonne. Trading activity in Germany remains manageable. However, prices at wholesale level rose significantly at the beginning of the week. Rapeseed meal remains in short supply. Some mills in Germany are currently unable to deliver and will not be able to offer goods again until the beginning of May. As a result, regional rapeseed meal prices are trending somewhat firmer. Canola on the ICE in Winnipeg was able to continue its upward trend since the beginning of the week yesterday and rose accordingly. Developments in the soy complex and palm oil had a particularly strong impact here amid a lack of news.

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