Rapeseed prices on Euronext remained largely unchanged or fell slightly due to profit-taking, following the May 2024 contract reaching its highest level since December. Meanwhile, palm oil prices are on the rise, with a 2.5% increase on the Kuala Lumpur Stock Exchange, driven by a resurgence in Malaysian exports. Western Europe's production outlook is worsening, with the DRV forecasting a decrease in the German rapeseed harvest to 3.94 Mt this year, a drop of 290 Kt from last year. However, the Argentine soybean harvest estimate has been increased by 500 kt to 50 Mt by the Rosario Stock Exchange.
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
Rapeseed prices were moving on a stable to bearish note this Thursday at mid-session on Euronext, in a market still slowed down by profit-taking after the recent jump of the May 2024 contract to its highest level since the end of December. Palm oil, on the other hand, continues its bullish rally driven by a resumption of Malaysian exports since the start of the month, with a gain of almost 2.5% still recorded this morning on the Kuala Lumpur Stock Exchange. Production prospects in Western Europe also continue to deteriorate. The DRV anticipates a German rapeseed harvest of 3.94 Mt this year, down 290 Kt compared to last year. Note, however, that the Rosario Stock ...
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