Europe: Euronext rapeseed loses nearly €6/t

Published 2024년 11월 5일

Tridge summary

Rapeseed prices on Tuesday experienced a decline on Euronext due to a stronger Eurodollar parity and consolidation of vegetable oils, but the market is still supported by tension in sunflower prices. The biodiesel sector is also experiencing an uplift due to firm crude prices, despite OPEC+ members postponing their production increase. The soybean complex in Chicago is unsure due to election uncertainties in the US, which could reinitiate the Sino-American trade war and affect soybean sales to China. In the US, harvests are finishing well with 94% of projects completed as of November 3, according to the USDA. Euronext rapeseed futures for February 2025 fell by €5.75/t to €510.25/t, and the May 2025 maturity fell by €5.50/t to €509.25/t.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rapeseed prices continued their decline on Tuesday at mid-session on Euronext, under pressure from a strengthening of the Eurodollar parity and a consolidation of vegetable oils. However, the tension on sunflower prices remains a significant supporting factor on the European market, while the biodiesel sector is once again being driven upwards by firm crude prices, after several OPEC+ members announced a postponement of their production increase. The soybean complex is moving hesitantly in Chicago, in the face of uncertainties related to the American elections. Donald Trump's return to the White House could indeed rekindle the Sino-American trade war and hamper American sales of soybeans to the Middle Kingdom, which have been particularly dynamic for the moment. Harvests in the United States are also finishing ...

Source: TerreNet