Weakening crude oil markets weigh on EU rapeseed price

Last Tuesday, EU rapeseed futures recorded a decline of 5.25 to 8.25 euros/t. The May 2024 futures contract, which expires soon, closed the Euronext session at 439.50 euros/t. The new leading August 2024 contract started at EUR 458.25/t. Due to yesterday's first May 2024, trading on Euronext was suspended.

In Canada, canola futures were able to partially recover from Tuesday's heavy losses thanks to positive indications from the US soybean and soybean oil markets. July 2024 futures on the ICE rose by 7.70 can-$/t to 625.70 can-$/t.

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