Rapeseed and canola futures started 2025 with a growth of 1.5-2.5%

The rise in oil prices over the past few sessions has led to a sharp speculative jump in rapeseed and canola prices after a decline in the last week of 2024.

 

In the first trading session of 2025 on the Paris stock exchange, February rapeseed futures rose by 2.5% to €524.25/t or $539/t (+1.9% month-on-month), recovering a pre-New Year drop of 4.4%. They were supported by rising global oil prices, European gas prices and a 2.9% monthly decline in the euro against the dollar to $1.028/€.

 

March Brent crude futures rose 3.8% to $75.9/barrel in the last week of December (+3.8% per month), and WTI crude futures rose 4.2% to $72.5/barrel on forecasts of a drop in temperature in the US in the next 10 days to -10..-20 ^° C.

 

January canola futures on the Winnipeg Exchange rose 1.5% yesterday to CAD 625/t or $434/t (+4.3% month-on-month) on the back of active canola exports from Canada. The fall in the euro against the dollar reduces the price difference between Canadian canola and European rapeseed to $100/t.

 

From September 1 to December 22, Canada exported 4.39 million tonnes of canola, an 81% increase over last year's pace and supporting canola prices despite reduced demand for canola oil from US processors, caused by falling soybean oil prices.

 

Rapeseed and canola markets will remain under speculative pressure from low supply until the spring, when the volumes of the new soybean crop in South America become known, which could significantly increase the pressure on prices of all oilseeds.