EU rapeseed climbs towards €500/t

Published May 24, 2024

Tridge summary

Rapeseed prices on Euronext have remained strong due to production risks in Europe and Ukraine, as well as rainfall issues in Australia. The market tension is also being reinforced by rising oil prices in Chicago and Kuala Lumpur, anticipating a potential recovery in international demand. The August 2024 futures on Euronext rapeseed rose by €6.50/t, to €494.50/t, and the November 2024 deadline appreciated by €6/t, to €502.25/t.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rapeseed prices maintained a strong bullish note this Thursday at mid-session on Euronext, with a contract close to €500/t. The trend remains driven by production risks in Europe, but also in Ukraine where frost damage was reported this week. The lack of rainfall in much of Australia is also hampering ongoing sowing projects and reinforcing the current market tension. Oil prices are also starting to rise again in Chicago (soybean) and Kuala Lumpur (palm) in anticipation of a potential recovery in ...
Source: TerreNet
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