Through strma the rise in price of soybean oil increased the prices of oilseeds
on Friday in Chicago soya oil rose by 2.2% and reached $770/t. the Main reason for the growth was the decision of the American court that the Agency for environmental protection, the U.S. made a mistake in trying to reduce mandates for biofuels. This decision has a positive effect on the ethanol market, however, it rose by only 0.6% and maize which is the main raw material for ethanol production is only 0.4%, which indicates more of a speculative increase in the price of soybean oil.
In growing zones of soybean and canola in the US and Canada on weekend was a little rain, and for the next 10 days forecasted dry weather with little rainfall, but with lower air temperature. Cool weather in the next decade will significantly reduce the risks of heat stress for the plants and slow the rate of loss of soil moisture.
This has restricted the growth of prices for soy and canola, which on Friday rose 0.5% and 1%, respectively.
But this speculative rise in the price of 9.00 Monday is almost lost and the quotes are almost back to the level of the beginning of trading Friday.
the Price of rapeseed on the MATIF rose to 375 €/t (440 $/t) because the contracts with delivery in August has closed and is now trading contracts with delivery in November, which was more expensive. The strengthening of the Euro against the dollar will continue to put pressure on European prices.