Europe: Rapeseed is once again trying to get back to €430/t

Rapeseed retained a little upward inertia this Friday at mid-session on Euronext, helped by the rebound in the soybean complex in Chicago. The movement, however, remains limited by the favorable precipitation which is currently affecting Brazil, as well as Argentina. The Buenos Aires Mercantile Exchange also raised its “good to excellent” Argentine soybean ratings by seven points in its latest weekly Crop Progress (37%). Crude prices also returned to an upward trend after being put under pressure during the previous day's session by Angola's withdrawal from OPEC. Security risks in the Red Sea indeed remain an important bullish element on the black gold market. Concerning the European market, winter rapeseed plantings in Germany were ...