The price of rapeseed grow with the support of the soybean market
the Intention of the US administration to compensate American farmers for the losses from trade war with China led to the growth of prices in the soybean market.
Yesterday in Chicago soybean futures rose 2.8% to 328,2 $/ton, soybean meal – 3% to 368,6 $/ton, oil – by 1.7% to 638,9 $/t
In regions of soybean production in the U.S. favorable weather conditions. According to a recent USDA report, in good to excellent condition are 70% of crops, which exceeds the last year indicator by 13% and the annual average by 5%.
On the background of favorable weather conditions and weather forecasts of good crops in Canada canola futures rose 0.8% to 492 CAD/t or 377 $/t
Prices for palm oil in Kuala Lumpur after falling in the previous week from 545 to 530 $/t yesterday rebounded to 533 us $/t on the background of increasing exports oil from Malaysia in July by 5% compared with June.
because of the uncertainty with the harvest of rapeseed in the EU amid growing neighboring markets of oil yesterday on Euronext August rapeseed futures rose 5,25 €/t to 366 €/t, the dollar price rose to 429,3 $/t due to the depreciation of the Euro to 1,1731 $/€.
In Ukraine, with 92% of area harvested 2.3 mln tonnes of rapeseed with a yield of 2.58 t/ha, which gives hope for obtaining a predicted yield of 2,4-2,5 million Purchase price of rapeseed grow, and with the beginning of the week grew up in port for 3-4 $/t until 408-410 $/t or 12700-12750 UAH/t UAH, prices have risen by 100-130 UAH/t due to the devaluation of the hryvnia to the level of 26.6 UAH/$.
the Market is saturated with suggestions of rape, farmers are forced to actively sell to replenish working capital, as precipitation can't collect crops.