Rapeseed prices are well above those of wheat
In Germany, UFOP reports that the ratio of futures market quotations of rapeseed to wheat increased continually over the 2016/17 marketing year. The figure temporarily rose to 2.3.
Paris futures market quotations of wheat and rapeseed from the new 2017 harvest show very different curves. Whereas wheat prices have been very stable at a low level in view of ample global supply, rapeseed prices have been more volatile at a significantly higher level. In other words, new-crop 2017 wheat was valued at EUR 181 per tonne at the beginning of the 2016/17 marketing year. Since then, prices have fallen gradually to currently 168 per tonne. This translates to a 7.3 % slide.
Rapeseed from the 2017 harvest hit its low at EUR 344 per tonne at the beginning of August 2016, firming at EUR 397 per tonne by mid December. Consequently, the difference between the highest and lowest prices was EUR 53 per tonne. However, rapeseed prices still remained above EUR 380 per tonne over the past several months until coming under pressure from the record crop in South America and declining rapeseed oil prices, Agrarmarkt Informationsgesellschaft mbH (AMI) reported. Except for a few weeks in July 2016, the ratio between rapeseed and wheat prices has always been above 2. At the end of 2016, one tonne of rapeseed was even valued at 2.3 times the wheat price.
Category: Fuels
