Cotidienne | Rapeseed prices down significantly on Euronext with low activity

THE rapeseed price on Euronext and the physical markets French have declined significantly with low activity on the futures market for this end of the year. THE sunflower price remained stable on the French physical market.

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To Chicago, soybean price fell after two sessions on the rise under the pressure of good harvests in Brazil. In addition, according to USDA figures, weekly sales of US soybeans were lower than expected with a drop of 31% compared to the previous week. Given the strength of the dollar, the downward trend in soybean prices could continue for the start of the new year 2025.Argentinethe Buenos Aires Stock Exchange reduces its surface area estimate by soybean sowing from 200,000 ha to 18.2 Mha. Argentine soybean plantings are progressing normally with an advance of 84.6%. In Brazil, ANEC estimates the soybean exports at 1.62 Mt in December. A local USDA correspondent is optimistic about Brazilian soybean areas with an upward revision of his estimate to 47 Mha compared to 45.8 for the previous campaign.

Au CanadaTHE canola price fell in the wake of soya and under the pressure of falling monthly crushing. Indeed, Statcan estimates the canola crushing at 1.02 Mt for the month of November. This is a decline of 7.5% compared to the month of October. However, let us point out that the previous month was a record in this area. In addition, the crushing of November 2024 exceeds that of November 2023 by 12.2%. The progression during the session of oil priceof the soybean oils and of palme limited the decline in canola prices.

THE rapeseed price on Euronext and the French physical markets fell significantly. As the futures market reopened on Friday, low trading volume pushed prices towards a bearish close in response to the rise recorded at the start of the week. Furthermore, the increase in the price of rapeseed and soybean oils did not provide support, as did the euro, which rose slightly.

On the macroeconomic side, theeuro progressed slightly with a parity of 1.043 dollars in a calm market. Oil is also progressing modestly, in a context of weak trade.

Fundamentals:

• Brazil, soybeans, sowing area: 47 Mha compared to 45.8 Mha last year (source: USDA)
• Argentina, soybean, sowing area: 18.4 Mha compared to 18.2 Mha previously (Source: Buenos Aires Stock Exchange)
• Canada, canola, monthly crushing: 427,366 t in November 2024 compared to 386,867 t in November 2023 (source: Statcan)

Commerce international :

• United States, wheat, weekly export inspections 2024-2025: 978,400 t the week ending December 19 (source: USDA)
• Brazil, soybeans, exports: 1.62 Mt in December (source: ANEC)

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Quotes on French physical markets from December 27, 2024 July basis for cereals

Commercial quotes for dairy products from December 26, 2024

Rec.:Harvest; available:available; Inc.:incoté; N:Nominal; T: Treaty; V:seller.

Closing of European futures markets on December 27, 2024

International market quotes as of December 27, 2024