News

Global: Rapeseed climbs by almost €6/t

Published May 30, 2024

Tridge summary

Rapeseed prices on Euronext have surged due to concerns over production in Western Europe, with continued rain showers expected to deter the future harvest. The market is also influenced by a rise in palm oil prices on the Kuala Lumpur Stock Exchange. Meanwhile, the soybean complex shows mixed trends due to rapid sowing reported by the USDA. The August 2024 Euronext rapeseed futures rose by €5.75/t, reaching €494/t, and the November 2024 futures increased by the same amount to €502.25/t.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rapeseed prices quickly started to rise again this Wednesday mid-session on Euronext, in a context of still marked concerns regarding production potential in Western Europe. The showers are also likely to continue at the beginning of June according to the latest forecasts, and to further degrade the estimates of the future rapeseed harvest. The market is also driven upwards by the new jump in palm oil, which this morning returned to its highest level since mid-May this morning on the Kuala Lumpur Stock Exchange. The soybean complex, on the other hand, is evolving in a more mixed manner, given the ...
Source: TerreNet
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