News

Europe: Rapeseed deepens its losses below €450/t

Rape Leaves
Malaysia
Published Apr 19, 2024

Tridge summary

Rapeseed prices have been on a downward trend, largely due to a significant fall in palm oil prices, which dropped nearly 10% since the start of the month because of reduced international demand and expected higher production in Malaysia. This decline is occurring alongside a sharp decrease in crude prices, despite geopolitical tensions. The soybean market is also under pressure from decreased demand from China and good weather in the Corn Belt, with emerging concerns about potential production losses in Argentina. As a result, Euronext rapeseed futures for August and May 2024 have both seen a decrease of €2.50/t.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rapeseed prices remained on a downward trend this Thursday at mid-session. The trend is in fact further weighed down by the drop in palm oil, which has now recorded a fall of almost 10% since the start of the month. A slowdown in international demand and an expected recovery in Malaysian production are notably behind this rapid downward turnaround. Crude prices also suffered a violent contraction during the previous day's session, despite a still very tense geopolitical context. The soybean complex remains battered by declining Chinese demand and favorable weather conditions in the Corn Belt. The loss of production ...
Source: TerreNet
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