Rapeseed prices on Euronext are on the rise for the fourth consecutive session, driven by an increase in palm oil prices due to a decrease in Malaysian stocks and positive global demand forecasts. Rumors of Chinese purchases are also causing a resurgence in Canadian canola prices. Meanwhile, the soybean complex is seeing a technical rebound ahead of a USDA report that will focus on South American production estimates. Euronext rapeseed for May 2024 futures increased by €4/t, reaching €426.50/t, while the August 2024 deadline rose by €2.75/t, to €423.75/t.
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Original content
Rapeseed prices were on their way to a fourth consecutive session of increases this Thursday at mid-session on Euronext. Palm oil continues to pull all vegetable oils higher, due to an estimated contraction in Malaysian stocks last month and an optimistic consensus regarding global demand in the medium term. Canadian canola is also regaining firmness amid rumors of Chinese purchases. The soybean complex, for its part, is making a technical rebound this Thursday, on the eve of a highly anticipated USDA report, in which production estimates in South ...
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