European rapeseed recovers by €1/t

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 ...