Rapeseed recovers above €520/t on European stock exchange

게시됨 2024년 12월 3일

Tridge 요약

Rapeseed prices on Euronext have experienced a significant increase due to a surge in palm oil prices in the Malaysian Stock Exchange, driven by the expectation of a recovery in Chinese consumption and an anticipated seasonal decline in Malaysian and Indonesian production. Canola prices in Winnipeg have also risen, bolstered by optimistic dialogue between Justin Trudeau and Donald Trump. Despite a drop in Malaysian exports last month, high demand continues to support the market. Abares has revised its Australian canola harvest forecast up by 120 kt to 5.6 Mt, while Stratégie Grains predicts a 12% increase in European rapeseed production in 2025, reaching 18.7 Mt. Euronext rapeseed futures for February 2025 have subsequently risen by €7.75/t to €522/t, with the May 2025 maturity increasing by €7/t to €515.25/t.

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원본 콘텐츠

Rapeseed prices continued a new marked upward movement this Tuesday at mid-session on Euronext, within a well-oriented oilseed complex. Palm oil in particular jumped by nearly 2.5% this morning on the Malaysian Stock Exchange, in anticipation of a recovery in Chinese consumption. The seasonal decline in Malaysian and Indonesian production is also supporting the current movement, despite a slowdown in exports observed last month in Malaysia. Canola is also back on the rise in Winnipeg, in a market reassured by the dialogue initiated between Justin Trudeau and Donald Trump last weekend. Abares has also raised its estimate of the Australian canola harvest this year by 120 kt, to 5.6 Mt, but this volume remains significantly lower than last year (6.1 ...

출처: TerreNet