Oilseed quotes await new impetus
Oilseed quotes in yesterday’s session ended with not much price movement. Oil on the world markets again rose significantly, but this did not translate into rapeseed quotations. For US soybean (indirectly rapeseed) quotations, the outcome of today’s US presidential election may be important.
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Crop oilseed rape quotations in the contract for February delivery next year on the Paris exchange fell 0.2 percent and amounted to 516.00 euros/t (2242 PLN/t ), 18.4 percent higher than a year ago.
Only soybeans became more expensive
U.S. soybeans rose 0.5 percent and cost $362.75/t. On a y/y basis, the price of soybeans fell by 24.3 percent. Canadian canola quotations fell by 0.1 percent and stood at CAD 630.30/ton, down 5.0 percent over the past year.
Matif rapeseed, February contract-price fell by 0.19 percent (516.00 euros/ton-£2242/ton).
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February rapeseed futures quotes expressed in PLN are shown in the chart below:
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On the following continuation chart of Matif-listed rapeseed contracts, the long-term trend is down, the medium-term trend is up and the short-term trend is up.
CBOT soybeans, November contract – price increased by 0.48 percent (362.75USD/t – 1446 PLN/t).
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On the Chicago soybean exchange, the downward trend is dominant – long-term, medium-term is down, short-term is up.
Canola WCE, November contract-price down 0.14 percent (CAD 630.30/ton-£1806/ton).
In Winnipeg, a long-term downward trend, a medium-term downward trend and a short-term upward trend prevail on canola.
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