Good news from the global rapeseed market, and wheat export prices dropped below EUR 200 per ton in the East

Further increases in palm oil prices yesterday drove up the price of rapeseed on the Paris Matif. It increased by EUR 7.5/t to EUR 430.75/t. The news is slightly worse in the context of wheat, but it also gained EUR 3.5/t in May contracts, and the session ended with a price of EUR 196.75/t. Palm oil is currently the most expensive since July 2023, and further price increases are expected due to lower production in Asia. Moreover, Statistics Canada reported that the sown area in the country will decrease due to lower production profitability and unfavorable weather conditions. The increase in wheat prices in Paris and Chicago resulted mainly from investors taking net short positions (bets on price declines), because there are few strictly substantive reasons that would cause increases; Although there are some concerns about the harvest in France, on the other hand, export prices for 12.5% wheat have fallen in Russia to only $198 per ...