Rapeseed in decline despite the rebound in soybeans
Rape Leaves
Packaged Legumes, Beans & Peas
Market & Price Trends
Published Mar 5, 2024
Tridge summary
Rapeseed prices on Euronext have dropped due to increased competition from Brazil and improved growing conditions in Argentina, despite a technical recovery in soybeans in Chicago. Palm oil prices also declined on the Kuala Lumpur Stock Exchange as Indian demand is expected to shift towards soybean oil. However, Strategie Grains has lowered its forecast for the 2024 European rapeseed harvest by 100 kt, bringing it to 18.3 Mt.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Rapeseed prices gave up a little ground this Monday mid-session on Euronext, despite a technical recovery in soybeans in Chicago. Brazilian competition continues to assert itself internationally and thus limits the potential recovery of bean prices. The improvement in growing conditions in Argentina is also driving the downward trend. Palm oil prices on the Kuala Lumpur Stock Exchange began the week with a decline. The market is indeed anticipating a shift in Indian demand towards soybean oil. Please note, however, that Strategie Grains has reduced its projection for the European rapeseed harvest in ...
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