Rapeseed loses another €3/t on European stock exchange

Published Sep 13, 2024

Tridge summary

Rapeseed prices on Euronext are facing a stable to bearish market due to a decline in palm oil prices in Kuala Lumpur and a decrease in Indian vegetable oil imports, potentially leading to increased import taxes. In contrast, the soybean complex in Chicago is recovering, aided by a USDA report on global supply and demand and concerns over dry conditions affecting soybean planting in Brazil. Additionally, a surge in crude oil prices following Hurricane Francine is also benefiting the oilseed market. Euronext rapeseed futures for November 2024 and February 2025 fell by €2.75/t at mid-session.

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

Original content

Rapeseed prices were once again trading on a stable to bearish note this Friday at mid-session on Euronext, still weighed down by the rapid contraction in palm oil prices on the Kuala Lumpur Stock Exchange. The very sharp contraction in Indian imports of vegetable oils last month and a probable tightening of the country's import taxes on these products are indeed weighing on the sector. The soybean complex, on the other hand, is continuing its recovery in Chicago, the day after a monthly report from the USDA on global supply and demand without much surprise. The dry conditions that are disrupting soybean planting in Brazil are indeed still being monitored by operators. Oilseeds are also benefiting from a ...

Source: TerreNet