Germany: Oil meal prices remain at a high level

While there is only occasional demand for prompt rapeseed meal, there is much greater interest in contracts with longer maturities. The supply on the rapeseed meal market is more than sufficient due to the plentiful rapeseed harvest. However, this offer meets with a dwindling demand, especially for early delivery dates, writes the UFOP. On the other hand, deliveries from November 2022 enjoy greater buying interest and are valued higher than September goods. In August 2022, wholesale prices tended to be firmer across the board and were not just 10% above the previous month's level on average, but even 37% above the prices in August 2021. At the beginning of September 2022, however, the prices for prompt goods tended to be weaker. The Agrarmarkt Informations-Gesellschaft (mbH) reported an average of 325 €/t ex mill on September 8th. In contrast, rapeseed meal became more expensive on later delivery dates, which were valued at €341/t. Soybean meal prices also rose significantly in ...