EU rapeseed recovers above €485/t

Rapeseed prices on Euronext have stabilized and are trending upwards after three sessions of decline, driven by a technical rebound in Chicago's soybean complex, despite slow American sales and favorable weather in the Corn Belt. There has also been a revival in France's rapeseed harvests, with low yield potential confirmed for the 2024 harvest. The entire oilseed complex is benefiting from a surge in crude oil prices, following a contraction in US stocks. At mid-session, the November 2024 Euronext rapeseed futures rose by €1.25/t, to €485/t, and the August 2024 deadline increased by €1.50/t, to €478.50/t.

Rapeseed prices were moving on a stable to bullish note this Thursday at mid-session on Euronext, after three sessions of heavy losses. The trend is based in particular on a technical rebound in the soybean complex in Chicago, despite still sluggish international American sales and rather favorable weather conditions in the Corn Belt. The rapeseed harvests have also regained momentum in France and the yield returns have further confirmed the low potential of this 2024 harvest. The entire oilseed complex is also benefiting from a revival in crude oil prices, after ...