European rapeseed falls back to €450/t

Published Aug 19, 2024

Tridge summary

Rapeseed prices on Euronext were stable to bearish despite positive trends in palm oil and Canadian canola, due to concerns over the Chinese economy. The market is also worried about the impact on crude oil and the biofuel sector. Despite a slight rebound in the soybean complex in Chicago, it is slowed by the prospect of record production in the US and favorable weather conditions. In Europe, the downward revision of the German rapeseed harvest and the expected decrease in sunflower production in Eastern Europe are the main focus. At mid-session, Euronext rapeseed futures for November 2024 fell by €2.75/t to €450.75/t, and the February 2025 deadline fell by €2.75/t to €452/t.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rapeseed prices were trading on a stable to bearish note this Monday at mid-session on Euronext, despite a positive technical recovery in palm oil and Canadian canola. The expected upturn in Indian demand for vegetable oil is indeed giving some support to the trend, but the risks concerning the Chinese economy continue to worry the market, and are once again hurting crude oil prices and, consequently, the entire biofuel sector. The soybean complex is also experiencing a small rebound in Chicago, but remains slowed by the prospect of record production in the United States and still favorable weather conditions in the Corn Belt. In Europe, however, the downward revision of the German rapeseed ...

Source: TerreNet