News

Global: Rapeseed rebounds by €3/t

Rape Leaves
Brazil
Published Mar 2, 2024

Tridge summary

Rapeseed prices have experienced a minor increase due to a technical rebound in the soya complex, despite soybean prices in Chicago being at their lowest in over three years. The recovery is limited due to strong production prospects in Argentina and competition from Brazil. The oilseed complex is also gaining from a resurgence of palm oil on the Kuala Lumpur Stock Exchange and the renewed strength of crude oil prices. Euronext rapeseed futures for May 2024 and August 2024 have also seen a slight increase.
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 took advantage of the technical rebound in the soya complex this Friday at mid-session to rise timidly. Bean prices in Chicago are indeed finding support at their lowest level recorded in more than three years, but attempts to recover remain limited by the good production prospects in Argentina and Brazilian competition. Weekly international sales of US soybeans also remained particularly low last week according to the USDA. However, the oilseed complex also benefits from the resurgence of palm oil on the Kuala Lumpur Stock Exchange as well ...
Source: TerreNet
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