Tridge summary
Rapeseed prices on Euronext are experiencing a decline due to a poorly performing oilseed complex, influenced by a potential increase in Saudi production leading to a bearish reversal in crude oil prices. The soybean complex is also showing caution ahead of a USDA report on US quarterly stocks. However, dry weather in Brazil is slowing down sowing operations and causing market concerns, along with damage to US port infrastructure by Hurricane Helene. The November 2024 Euronext rapeseed futures contracted by €6/t, reaching €463.50/t, and the February 2025 contract eased by €5.50/t to €473.25/t at mid-session.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Rapeseed prices continued their decline on Monday at mid-session on Euronext, under pressure from an oilseed complex that was once again poorly oriented. The bearish reversal of crude oil prices in response to a potential increase in Saudi production is indeed pushing all oil-rich seeds into negative territory. The soybean complex is also opening the week cautiously in Chicago, ahead of the publication of the highly anticipated USDA report on US quarterly stocks as of September 1. However, the dry weather in Brazil continues to slow down sowing operations in the country and is causing some concerns in the market. The damage caused by Hurricane Helene to US port infrastructure in the Gulf of Mexico has also ...
Source: TerreNet
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