Global: Euronext rapeseed targets €520/t

Published Oct 30, 2024

Tridge summary

Rapeseed prices on Euronext have surged due to rising palm oil prices in Kuala Lumpur Stock Exchange, driven by the recovery of Malaysian exports in October and increased Indonesian biofuel production. Middle East tensions have also contributed to crude oil prices rising, impacting the rapeseed market. However, the soybean complex is experiencing a downward trend due to abundant American harvests and improved Brazilian sowing conditions, despite high global demand. The resumption of sunflower harvests in France has confirmed significant quality losses in October, and Eastern European seed prices are increasing after a poor harvest. At mid-session, Euronext rapeseed futures for February 2025 and May 2025 maturity have experienced significant increases.

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

Original content

Rapeseed prices maintained their upward movement this Wednesday at mid-session on Euronext, in the wake of palm oil which continued its upward rally this morning on the Kuala Lumpur Stock Exchange. The recovery of Malaysian exports during the month of October, as well as the increase in Indonesian consumption for the manufacture of biofuels continue to push the trend to its highest levels since July 2022! Tensions in the Middle East are also boosting crude oil prices, after the drop recorded last Monday. In France, the resumption of sunflower harvests has also confirmed the loss of potential and quality suffered during the month of October, while the prices of Eastern European seeds are climbing again after a particularly disappointing harvest. The soybean complex, on the other hand, remains on a gloomy ...

Source: TerreNet