Rape quotations for the contract for February delivery next year on the Paris Exchange fell 1.0 percent on Friday to €517.00/ton (PLN 2251/ton), 20.2 percent higher than a year ago. Over the past week, quotations have risen 0.6 percent.
Rapeseed on MATIF most expensive in 20 months
Looking at a continuation chart of rapeseed quotations, Friday’s price is at its highest level since March 7, 2023. It seems that in the context of a poor rapeseed harvest in the Union, the upward trend in quotations should continue. A brake on further price increases is weak soybean quotations, but in turn, strong increases in palm oil quotations are supporting the rapeseed market.
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Soybean harvest. What were the yields and buying prices this season?
U.S. soybeans were unchanged in price on Friday at $361.00/ton. On a y/y basis, the price of soybeans fell 23.9 percent, while for the week it declined 0.5 percent. Canadian canola quotations fell 0.7 percent to CAD631.20/ton, down 3.5 percent for the past year. On a weekly basis, canola cheapened 1.6 percent.
EU rapeseed crop forecast lowered again
The European Commission, in its latest report on October 31, again lowered its forecast for the EU rapeseed harvest in 2024/25, this time to 17.1 million vs. 17.2 million tons a month ago. The harvest is expected to be 2.6 million t lower than last season. According to the Commission, among the EU’s largest rapeseed producers, the harvest will be lower in France by 0.4 million and will amount to 3.9 million t, in Germany it will fall by 0.6 million t (3.6 million t) and in Poland it will decrease by 0.4 million t (3.3 million t).
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Oilseed rape discoloration. Plantations lack nitrogen?
MATIF rapeseed, February contract – price on Friday fell by 1.01 percent (€517.00/t – PLN 2251/t).
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 is unchanged ($361.00/ton – PLN 1446/ton).
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On the Chicago soybean exchange, the prevailing trend is downward – long-term, medium-term is down, short-term is up.
Canola WCE, November contract-price fell 0.71 percent (CAD 631.20/ton-£1817/ton).
Canola WCE, November contract-price fell 0.71 percent (CAD 631.20/ton-£1817/ton).
In Winnipeg, the long-term downtrend, medium-term downtrend and short-term uptrend prevail on canola.
