Tridge summary
Rapeseed prices have seen stabilization on Thursday after recent losses, buoyed by a rebound in crude oil prices following Ukrainian strikes in Russia and optimistic expectations for the biodiesel sector. The European Commission has adjusted its forecasts, predicting a decrease in the European rapeseed harvest to 19.5 million tons, a reduction of 350 thousand tons, while anticipating an increase in sunflower production to 10.7 million tons, up by 500 thousand tons. The soya complex is on hold for upcoming USDA reports concerning 2024 planting areas and quarterly stocks in the US. Meanwhile, Euronext rapeseed futures for May 2024 experienced a slight decline, and those for August 2024 saw a minor uptick.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Rapeseed prices regained some stability this Thursday mid-session after having suffered clear losses during the two previous sessions. The rapid rebound in crude oil prices against a backdrop of Ukrainian strikes in Russia has indeed given some support to the oilseed and the entire biodiesel sector. The European Commission has also announced that it anticipates a European rapeseed harvest down by 350 kt this year, to 19.5 Mt. Sunflower production, on the other hand, is expected to increase by 500 kt, to 10.7 Mt. The soya complex remains hesitant before the USDA reports scheduled for this afternoon ...
Source: TerreNet
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