Current rapeseed processing in Ukraine has better product parity
Rapeseed exports in the period from May 1 to 28 amounted to 122.3 thousand tons. Rapeseed oil was shipped abroad in this period in the amount of 26.5 thousand tons. This is reported by analysts at Spike Brokers.
The main destinations of rapeseed exports: Belgium – 59.2 thousand tons, Germany – 35.8 thousand tons, the Netherlands – 22.6 thousand tons, the Czech Republic – 4.6 thousand tons.
The rapeseed complex remained divided between softer stock market dynamics and stronger near-term oil quotes.
August MATIF ended last week at €524.25, while physical rapeseed oil in Europe is significantly more expensive in the coming month: June – €1,335, July – €1,270, August – €1,155.
The forward oil curve remains inverted: spot and July are trading at a premium to August. This creates a mixed signal for the raw material. Current processing has a better product parity, but the new crop is already being priced due to the lower August oil base and a more cautious MATIF. Forward rapeseed prices are trading at around €530 DAP Germany for 40% oil or €475 FCA Chop, delivery August-September.
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