European rapeseed recovers above €500/t

Rapeseed prices continued their recovery movement this Friday at mid-session on Euronext, to return to the psychological support of €500/t on the November 2024 and February 2025 maturities. The trend is benefiting in particular from a recovery in the soybean complex in Chicago, against a backdrop of dynamic American international sales. The higher-than-expected growth in Chinese GDP in the third quarter also reassured the market regarding the outlook for the scale of demand from the Middle Kingdom in the medium term. In France, the climate also remains a source of concern with numerous bad weather events continuing to significantly delay the sunflower harvests and risk hampering the proper development of rapeseed crops. Palm oil on the Kuala Lumpur Stock Exchange, on the other hand, ended the week with a second consecutive session of decline this ...