Rapeseed gains €1/t despite a surge in oil prices in Euronext

Rapeseed progressed timidly this Friday mid-session on Euronext, despite a surge in crude prices, notably with a barrel of Brent returning to $80 for the first time since the end of December. The American and British strikes on the Houthi rebels in Yemen have indeed raised fears of a new rise in geopolitical tension in the Middle East and a disruption of supply flows via the Red Sea. The oils sector also remains driven by the clear recovery in Indian demand and the contraction in Malaysian supply recorded last month. Palm oil also rose for the seventh session this morning on the Kuala Lumpur Stock Exchange, jumping 1.6% to reach its highest level since December 1. The soybean complex, ...