Overall Australian Oilseed Market Update for March 23, 2023

Overseas oilseed markets were mixed overnight on March 23, 2023. European rapeseed saw a lift after falling in the previous 13 trading days. Canadian canola also experienced a rebound. Soybean oil and palm oil were lower. Rapeseed oil prices in Europe dropped below palm oil prices in W12, which is the first time this has happened in over 25 years. Australian canola continued to pull down with the weaker overseas markets falling USD 43 against W11's trade and trading at USD 401.70/MT delivered to Port Kembla.