Canadian rapeseed harvest forecast drops
After two weeks of sharp price declines for Canadian canola, prices rose sharply last week. The impulse for the price increases was the reduction of the canola harvest forecast by 0.5 million tons to 19.0 million tons by Statistics Canada. To a lesser extent, but also the prices of European rapeseed rose.
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Argentina will import soy from the US. Because it is the cheapest in the world
Rapeseed prices in the November delivery contract on the Paris stock exchange fell by 0.3 percent on Friday to EUR 462.75/t (PLN 1,980/t), which was 6.8 percent higher than a year ago. Over the past week, prices rose by 1.4 percent.
Canola's price rose nearly 9 percent in a week.
American soybeans fell 0.1% on Friday to $371.84/t. Year-on-year, soybeans fell 21.8%, but rose 0.6% for the week. Canadian canola rose 1.1% to $588.90/t, and has fallen 18.8% over the past year. Week-on-week, canola rose 8.7%.
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Matif rapeseed, November contract – the price on Friday fell by 0.32 percent (462.75 euro/t – 1980 PLN/t).
The November rapeseed futures contracts quoted in Polish zloty are presented in the chart below:
The following continuation chart of rapeseed futures listed on Matif shows a long-term downtrend, a medium-term uptrend and a short-term uptrend.
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Purchase prices of basic agricultural products in neighboring German states
CBOT soybeans, November contract – the price fell by 0.12 percent on Friday (371.84 USD/t – 1,425 PLN/t).
On the Chicago Stock Exchange, a downward trend dominates for soybeans – the long-term is down, the medium-term is down, and the short-term is down.
Canola WCE, November contract – price increased by 1.08 percent (588.90 CAD/t – 1,663 PLN/t).
In Winnipeg, canola is in a long-term downtrend, a medium-term downtrend, and a short-term downtrend.