Rapeseed meal prices drop 13% but soybean meal price stays steady

In Germany, UFOP reports that German wholesale prices for rapeseed meal dropped substantially over the past few weeks. Asking prices dwindled by almost 13 per cent to the recent level of EUR 186 per tonne ex production facility. The reasons for the decline in prices were rising new-crop supply and waning feedstock prices, Agrarmarkt Informations-Gesellschaft mbH (AMI) reported. At the same time, asking prices for Brazilian GMO-free soybean meal containing 48 per cent crude protein were slightly steadier in the reference period. Although prices also fell, buyers still had to pay EUR 442 per tonne FOT (Free On Truck) Brake, Germany, only 3.5 per cent less than at the beginning of June 2017. Consequently, rapeseed meal has become substantially more competitive. Recently, the price spread between 1 per cent crude protein in rapeseed meal and 1 per cent crude protein in GMO-free soybean meal even reached EUR 3.90 per tonne, a level last seen in mid May 2017.