Global: Euronext rapeseed pushed back to €500/t

Published Nov 27, 2024

Tridge summary

Rapeseed prices on Euronext have fallen due to a decline in Canadian canola prices, which are at their lowest in over two months on the Winnipeg Stock Exchange. This decline is due to potential customs duties of 25% on imports from Canada and Mexico, and additional charges of 10% on Chinese imports proposed by Donald Trump. The soybean complex reacted mixedly to these announcements, with concerns of a trade war offset by the possibility of increased domestic consumption of soybean oil in the US. Palm oil prices, however, have increased for the third consecutive session on the Malaysian Stock Exchange due to decreased production in South-East Asia and anticipated increased consumption in Indonesia.

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

Original content

Rapeseed prices remained on a downward trend this Wednesday at mid-session on Euronext, weighed down by the rapid decline in Canadian canola, which is now trading at its lowest level in more than two months on the Winnipeg Stock Exchange. Donald Trump has announced that he wants to impose customs duties of 25% on imports from Canada and Mexico, as well as additional charges of 10% on Chinese imports. The fall in Canadian canola prices is thus strengthening the competitiveness of this origin on the Community market. The soybean complex, however, reacted mixedly to these announcements. The risk of a trade war certainly weighs on the entire oilseed complex, but these import taxes could also boost domestic consumption of soybean oil in the United States. Palm oil, for its part, has chained a third consecutive session of increase on the Malaysian Stock ...

Source: TerreNet