Ukrainian old-crop rapeseed Is practically exhausted
Ukraine exported 71.5 thousand tons of rapeseed in February. This is reported by analysts at Spike Brokers.
The main destinations are Belgium (39.6 thousand tons) and Germany (25.0 thousand tons). The old harvest is practically exhausted, liquidity is low, the market is focused on the new season.
The May contract on the MATIF exchange grew by €4 – to €487.00, the August contract is €471.25 (+€2.75). The market is consolidating above €480, forming a base for a potential movement in the range of €490-500, provided that the support from the soybean complex remains. The physical rapeseed oil market (FOB Dutch mill) is stable: March – €1,100, April – €1,080, May – €1,110. Demand from the biodiesel sector remains flat, without sharp spikes.
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