Last week, most of the oil contracts on global exchanges ended with price increases. Rapeseed on MATIF gained 2.8%.
Canola has gained over 11% in one month.
Last week, in most cases, the increase in oil prices on world stock exchanges, which had been going on for about a month, continued in most cases. At this time, Canadian rapeseed prices are the best, having increased by 11.2% since the low recorded a month ago. and are at levels last seen over two months ago.
Rape on the Paris stock exchange is the most expensive in 4 months
A slightly smaller increase was recorded in rapeseed on the Paris stock exchange, the price of which has increased since the low reached on February 26 this year. increased by 10.0 percent and is at the level last seen at the end of November last year. The worst performance at this time was the price of American soybeans, which increased by 5.3% over the last month.
Changing the trend to an upward one
From the point of view of technical analysis of charts, the recent increases in oil prices have turned into an upward trend that has not been seen on the markets for a long time – short-term for now.
Prices of rapeseed in the contract for delivery in May on the Paris Stock Exchange fell by 0.1 percent on Friday. and amounted to EUR 448.25/t (PLN 1,936/t) and were 1.2% higher. lower than this time last year. Over the last week, the price of rapeseed has increased by 2.8%.
Canadian canola prices fell by 1.3% on Friday. and amounted to 634.50 CAD/t, and over the last year they decreased by 14.6%. On a weekly basis, the price of canola increased by 0.7%. American soybeans fell 1.6% on Friday. and cost USD 438.16/t. On a y/y basis, the price of soybeans decreased by 19.0%, while in the last week of trading the price decreased by 0.5%.
MATIF rapeseed, May contract – price decreased by 0.11%. (EUR 448.25/t – PLN 1,936/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 fell by 1.61%. ($438.16/t – PLN 1,749/t).
On the Chicago stock exchange, the soybean market is dominated by an upward trend – long-term, medium-term is down, short-term is upward.
Canola WCE, May contract – price decreased by 1.31%. (CAD 634.50/t – PLN 1,866/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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