Daily | Oilseeds – Rapeseed prices gain €10/t on Euronext

THE prix of rapeseed have progressed on the European futures market Euronext and on the walk physique French between June 28 and July 1. In Europe, the first echoes of the yields are disappointing, particularly in France where the harvest has started. Stratégie Grains has also revised European production downwards compared to last month. The rise in oil prices has also pushed prices upwards.

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And zone black Seathe harvest began in Ukraine. The taxation prohibitive of imports of grains and grain products from Russia and of Belarus came into force yesterday in the European Union.

In North America, the Canadian market was closed yesterday. The complex military US saw its prices increase on the CBOTin the wake of oil. Soybean oil prices have jumped 5% in Chicago.
In addition, the specter of a possible election of Donald Trump at the White House worries Chinese operators. Indeed, his re-election could bring trade tensions between the Chine and the UNITED STATES. Chinese importers are already buying, and some analysts expect significant Chinese soybean imports in July to hedge their losses. Attractive price levels are also boosting their soybean purchases.
In the United States, soybean growing conditions change little from week to week and remain much better than those of last year to date, especially since the rains recent ones favor the development of plants.

In Australiatests for a variety of canola GMO will be carried out successfully.

On the side of theoil of palmsprices have increased in Malaysia on the near term, but have declined on the far term. This is due to technical purchases, but also to the rise in oil prices. On the other hand, theIndonesia could impose a 200% tax on Chinese imports. In response, China could retaliate on palm oil imports from Indonesia.

The prices of the oil rose in New York and London between June 28 and July 1. Israeli strikes on Gaza are raising concerns about global crude supplies, due to potential Houthi retaliation against ships in Red Seain the Gulf of Aden or in Arabian Sea. In addition, the market expects a drop in interest rates in the United States, which should stimulate business activity and, in turn, consumption black gold. The publication of a rising Chinese PMI index, an indicator of better industrial activity in the Middle Kingdom, allows us to anticipate greater Chinese demand for oil, which has also pushed prices up.

The prices of the sunflower followed those of rapeseed on the French physical market, gaining 10 €/t.

Fundamentals:

• United States, soybeans, growing conditions : 67% in “good to excellent” condition as of June 30 versus 67% the previous week and 50% in 2023 (source: USDA);
• United States, soybeans, raised : 95% of plots as of June 30 compared to 90% the previous week and 93% on a five-year average (source: USDA);
• United States, soybeans, flowering : 20% of plots as of June 30 compared to 8% the previous week and 15% on a five-year average (source: USDA);
• United States, soybeans, pod emergence : 3% of plots as of June 30 compared to 2% on a five-year average (source: USDA).

French physical markets from July 1, 2024 (July basis for cereals)

Commercial quotations of dairy products from June 27, 2024

Dollar / euro evolution from July 1, 2024

Chicago Futures Market Closes July 1, 2024

Closing of the Euronext futures market on July 1, 2024

International market quotes from July 1, 2024