European rapeseed falls back to €450/t

Rapeseed prices were trading on a stable to bearish note this Monday at mid-session on Euronext, despite a positive technical recovery in palm oil and Canadian canola. The expected upturn in Indian demand for vegetable oil is indeed giving some support to the trend, but the risks concerning the Chinese economy continue to worry the market, and are once again hurting crude oil prices and, consequently, the entire biofuel sector. The soybean complex is also experiencing a small rebound in Chicago, but remains slowed by the prospect of record production in the United States and still favorable weather conditions in the Corn Belt. In Europe, however, the downward revision of the German rapeseed ...