EU: Rapeseed corrects by €3.50/t on Euronext

Rapeseed prices were undergoing a consolidation movement this Tuesday at mid-session on Euronext, after having reached a new peak the day before at over €530/t, in the wake of palm oil returning to its highest level in two years on the Malaysian Stock Exchange. The latest report from the MPOB (Malaysian Palm Oil Board) confirmed the sharp contraction in Malaysian stocks last month, due in particular to a slowdown in national production and a recovery in export rates. The European market also remains under tension after particularly disappointing sunflower harvests. Agreste has also lowered its estimate of the French harvest this year by 90 kt, to 1.7 Mt, a decrease of 400 kt compared to last year. The soybean complex is also back in the red this ...