Rapeseed prices on Euronext have reached their highest level since November, driven by increased Malaysian palm oil exports and a rise in vegetable oils in the European market. Coceral has further reduced its EU production outlook for this year to 19.1 Mt. The soybean complex in Chicago is also increasing, positively impacting all oilseeds. However, excessive rainfall in Argentina is causing concern over potential losses. Despite a positive American sale announced on Wednesday, the market remains cautious due to strong competition from Brazil.
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 maintained a slight firmness this Thursday mid-session on Euronext, returning to their highest level since the end of November. The acceleration of Malaysian palm oil exports and a general jump in vegetable oils on the European market continue to drive the price of the seed upwards. Coceral further lowered its EU production outlook this year to 19.1 Mt (20.1 Mt in 2023). The soybean complex is also on the rise again in Chicago and is giving a positive boost to all oilseeds. Excessive rain in Argentina is causing increasing concern and risks leading to a loss of potential. A reassuring American sale was also announced during Wednesday's session, in a ...
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