Prices of new-crop rapeseed slightly firmer

July 2, 2017 |

In Germany, UFOP reports that prices for old-crop and new-crop rapeseed converged somewhat. The trend of declining new-crop contract prices appears to have bottomed with prices recovering.

The top level contract prices for the new rapeseed crop reached in March 2017 was followed by a steady downward slide. The reason was falling US soybean prices that weakened futures prices in Paris and Chicago. However, prospects of convenient global supply of soybeans prevented any scope for upward movement in prices, Agrarmarkt Informations-Gesellschaft mbH (AMI) reported. Also, European demand for rapeseed has been amply satisfied by rapeseed from Australia since spring 2017. Against this background, farmers hope that the price lines will meet in the range around EUR 350 per tonne.

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