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

Rape Leaves

United States

Maize (Corn)

Published Mar 13, 2024

Tridge summary

Rising palm oil prices have led to an increase in the price of various commodities including rapeseed, wheat, and corn on the Paris Matif. The price of rapeseed rose to EUR 430.75/t, wheat to EUR 196.75/t, and corn to EUR 177.75/t. These price hikes are attributed to reduced production in Asia and unfavorable weather conditions in Canada. In a related development, China has canceled a contract to import 264,000 tons of wheat from the USA.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

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 ...

Source: Wrp