Canola quotations fixed

Rapeseed prices friendly

Due to the positive development in the US soybean sector and friendlier palm oil prices, EU rapeseed futures recorded notable gains yesterday (Thursday). The leading August 2024 futures contract rose by EUR 8.25/t to EUR 466.50/t on Euronext. The following delivery dates also rose by between 7.25 and 8.50 euros/t.

On the local spot markets, transactions were concluded from June 2024 up to and including December 2024.

Canadian canola futures also reacted positively to the data from the US soy complex and headed south. The July 2024 contract closed at 636.90 Can-$/t (+11.20). In March 2024, Canadian canola exports amounted to 672,000 tons, with the majority of 507,300 tons going to China. Overall, canola exports in the 2023/2024 marketing year totaled 4.07 million tonnes, which is significantly lower than the 6.04 million tonnes exported in the same period of the previous year. This shows the current dynamics and potential of the rapeseed market in Europe and Canada.

Canola quotations fixed
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