Last week, most oil contracts on global exchanges ended with price increases. The price of rapeseed on Matif increased by 1.8%.
The beginning of the month on world stock exchanges saw a rebound in rapeseed prices after the pre-Christmas correction. No matter how you look at it, prices have been rising since the third decade of February, and what we observe around Christmas seems to be just a pause in the upward trend that started in February.
Forecasts of lower rapeseed production in the EU
Oil prices should be supported by the strongly rising oil prices on global markets, which increased by almost 5% last week. is the most expensive since October 2023 (as we know, significant amounts of oilseeds are used to produce biodiesel). Moreover, the first forecast of the European Commission indicates a reduction in the rapeseed harvest in the EU in the coming season by 0.4 million tonnes to 19.5 million tonnes.
According to the Commission, among the largest EU producers of rapeseed, the harvest will be higher in France – by 0.3 million and will amount to 4.5 million tonnes, while lower in Germany – by 0.2 million tonnes (4.1 million tonnes) and in Poland – by 0. 2 million tons (3.5 million tons).
On Friday, rapeseed on Matif gained the most
The price of rapeseed in the contract for delivery in May on the Paris Stock Exchange increased by 2.2 percent on Friday. and amounted to EUR 445.75/t (PLN 1,912/t) and were 4.7 percent lower than this time last year. Over the last week, the price of rapeseed has increased by 1.8%.
Canadian canola prices increased by 1.5% on Friday. and amounted to 643.1 CAD/t, and over the last year they decreased by 16.6%. On a weekly basis, canola prices increased by 2.7%. American soybeans rose 0.4% on Friday. and cost USD 435.41/t. On a y/y basis, the price of soybeans dropped by 21.6%, while in the last week of trading the price decreased by 0.5%.
Matif rapeseed, May contract – price increased by 2.24%. (EUR 445.75/t – PLN 1,912/t).
Quotations of May rapeseed futures contracts expressed in PLN are presented in the chart below:
In the continuation chart below of rapeseed contracts listed on Matif, the long-term downtrend dominates, the medium-term trend is downward and the short-term trend is up.
CBOT soybeans, May contract – price increased by 0.42%. ($435.41/t- PLN 1,723/t).
On the Chicago stock exchange, the soybean market is dominated by an upward trend – long-term, medium-term downward, short-term upward.
Canola WCE, May contract – price increased by 1.50%. (CAD 643.10/t – PLN 1,876/t).
In Winnipeg, canola is dominated by a long-term downward trend, a medium-term downward trend and a short-term upward trend.
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