Rapeseed prices in the global market rose to $480-495 per ton

Published 2024년 7월 8일

Tridge summary

Rapeseed prices have been on a consistent rise for two weeks in a row on the Paris stock exchange, with August futures increasing by 1.3% to €508.25/t or $550.4/t, driven by low yields in Ukraine. Despite the sale of new canola batches from Canada to the EU, prices continue to surge due to a price difference of up to $70/t and restricted export rates. Ukraine's delay in harvesting and producers' reluctance to sell have led to a significant increase in export purchase prices. The situation is further complicated by the impact of oil prices, which remain high due to the potential for reduced Middle East escalation following the election of Iran's opposition president.

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

Original content

On the stock exchange in Paris, rapeseed prices have been actively growing for two weeks in a row. August futures rose 1.3% to €508.25/t or $550.4/t (+10% in two weeks) and surpassed May's high of 495 on Friday on news of low rapeseed yields in Ukraine €/ton This is reported by analysts of the GrainTrade electronic grain exchange. Even the news about the sale of new batches of canola from Canada to the EU did not stop the rise in prices. And based on the price difference of up to $70/t, the pace of canola deliveries will increase. On the Winnipeg exchange, November canola futures on Friday rose 1.2% to CAD 658/t or $482/t (+6.5% for two weeks), in line with the previous month's level, and so far inferior to May's 695 CAD/t and the record 770 CAD/t recorded in early September. However, the growth of canola prices is limited by low export rates and good weather conditions. According to StatsCan, in the period of June 24-30, Canada increased canola exports compared to the previous ...

Source: Agrotimes