Rapeseed continues its decline towards €470/t

Published May 17, 2024

Tridge summary

Rapeseed prices on Euronext have declined for the third straight session, impacted by lower-than-expected U.S. soybean crushing and reduced Malaysian palm oil exports. Although market conditions showed some resilience due to adverse weather in Brazil and the U.S., French rainfall is diminishing the prospects for the 2024 rapeseed harvest. As of 1:00 p.m., August 2024 futures dropped by €1.75/t to €473.25/t, and November 2024 futures decreased by €2.50/t to €481/t.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rapeseed prices remained stuck in negative territory for the third consecutive session this Thursday at mid-session on Euronext, in particular in the wake of the soya complex. American crushing actually came out very clearly below market expectations last month, according to Nopa. Floods in southern Brazil, however, continue to bring some firmness to the market, while rains in the Corn Belt are delaying sowing sites. In France too, showers remain current and are gradually reducing the potential of the 2024 rapeseed harvest. Palm oil on the Kuala Lumpur Stock Exchange also lost further ground this morning, in ...
Source: TerreNet
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