Speculative drop in rapeseed prices in Paris reached 4%
Friday’s drop in oil prices by 3.7% and “Black Monday” on world stock markets led to a speculative decline in rapeseed prices on the Paris stock exchange, despite stable prices for canola and soybeans in the United States.
the November futures for rapeseed on the stock exchange in Paris yesterday fell by 4% to the lowest since the end of April level of 458,75 €/t or 497 $/t (-13.4% for the month), although a month ago they reached a record 514,5 €/t amid deteriorating balance of rapeseed in the EU in 2024/25 MG.
November futures for canola on the stock exchange in Winnipeg yesterday remained at 610 CAD/t or 441 $/t (-7% for the month), as warm and dry weather in the prairies will contribute to the loading of canola. The precipitation needed now is not yet predicted, so the quotes will not fall significantly until the prospects for the future harvest become clear.
the September futures for soybean oil in Chicago for the week fell another 5.6% to the lowest since the end of 2020 level of 903 $/t (-18.8% for the month).
In Ukraine, exporters yesterday lowered the purchase price of rapeseed by 500-700 UAH/t to 21900-22300 UAH/t with delivery to the ports of the black sea, and some stopped purchases.
Quotes for rapeseed will be restored as the increase in world markets of speculative capital withdrawn from the stocks, as the balance of rapeseed in the EU this season will remain tense.
October futures for Brent crude oil on the ICE Futures exchange in London fell by 4.2% to $76.4 per barrel (-11.2% for the month) in two sessions, but yesterday at the end of trading rose to $77.2 per barrel on the news of Iran’s preparations for an attack on Israel in the near future. As a reminder, Iran and Russia are most interested in escalation in the Middle East, which will lead to higher oil prices and allow them to make excessive profits to continue hostilities.
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