Rapeseed falls despite the friendly mood

Contrary to the generally positive sentiment for agricultural goods and oilseeds, rapeseed on Euronext/Matif headed south on Friday. The front month of May lost 1.50 euros to close at 449 euros/t. This also reflects some profit-taking after the previous week's positive movements. Rapeseed on the cash markets was unchanged on Friday compared to Thursday, while asking prices for rapeseed meal trended slightly upwards due to the continued tight market supply. Palm oil fell repeatedly on Friday and has been on a downward trend for more than a week, thus also weighing on prices for competing vegetable oils. Soybean oil gained in the wake of the price increases for soybeans. On the ICE, the price of canola was largely flat. Although there was a positive mood here too, weak export demand for Canadian goods is weighing on the market as a whole.

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