News

Rapeseed rebounds by €5/t on Euronext

Published May 18, 2024

Tridge summary

Rapeseed prices on Euronext have increased after three consecutive sessions of decline, driven by a revival in the soybean complex. This is due to a reduced harvest estimate for Argentina's soybeans and flooding in southern Brazil. Canola prices in Winnipeg are also recovering due to a slowdown in Canadian plantings and an increase in exports. Firm international oil prices and a surprise drop in American soybean oil stocks last month are also contributing factors. However, the sector is being weighed down by a recovery in Malaysian palm oil production. August 2024 futures on Euronext rapeseed rose by €5.25/t, to €478.75/t, and the November 2024 deadline advanced by €4.25/t, to €486/t.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rapeseed prices were back on the rise this Friday mid-session on Euronext after three sessions in the red. The oilseed is benefiting in particular from the revival of the soybean complex, after the Buenos Aires Stock Exchange reduced its estimate of Argentina's soybean harvest this year by 500 kt, to 50.5 Mt. The floods in southern Brazil also remain a problem. major subject of concern. Canola prices in Winnipeg are also recovering in response to a further slowdown in Canadian plantings and a recovery in exports. Oil prices also remain firm internationally, after the surprise drop in American soybean oil stocks last month (according to Nopa). The ...
Source: TerreNet
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