Tridge summary
Rapeseed prices on Euronext experienced a slight increase on Monday, reaching a new season high last Thursday, driven by the surge in vegetable oils, particularly palm oil. The rise in palm oil is attributed to an acceleration in Malaysian exports and an anticipated increase in Indonesian biodiesel production. OPEC+ extending its production cuts program until the end of December also contributed to the upward trend in oil and the entire biofuel sector. However, the recovery in the eurodollar parity negatively impacted European quotations. At midday, Euronext rapeseed futures for February 2025 and May 2025 maturity both rose by €1/t.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Rapeseed prices were timidly rising again this Monday at mid-session on Euronext, after reaching a new season high last Thursday, helped by the continued strength of vegetable oils. Palm oil on the Kuala Lumpur Stock Exchange notably rose to its highest level since June 2022 this Monday morning, driven by the acceleration of Malaysian exports and the expected increase in Indonesian consumption for the manufacture of biodiesel. Oil is also leading the entire biofuel sector upwards, jumping 3% at midday, in response to the announcement by OPEC+ of a one-month extension of its production cuts program, until the end of December. The soybean complex also recorded significant gains in Chicago, despite the market's nervousness before the American ...
Source: TerreNet
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