Tridge summary
Rapeseed prices on Euronext are consolidating after reaching a new high of over €530/t the previous day, driven by palm oil prices on the Malaysian Stock Exchange reaching a two-year high due to a decrease in Malaysian stocks and an increase in exports. The European market is also under pressure due to disappointing sunflower harvests, with the French harvest estimate being reduced by 90 kt. The soybean complex in Chicago is also experiencing a decline due to favorable sowing conditions in South America. As a result, Euronext rapeseed futures for February 2025 fell by €3.50/t to €535.50/t, and the May 2025 deadline fell by €3.75/t to €531.75/t.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
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 ...
Source: TerreNet
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