Rapeseed was still in the green Thursday at midday on its close deadline in May, driven by the good performance of oilseeds and harvest delays in Brazil.
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“Volatility remains in the oilseeds market, with a continued surge in rapeseed prices, still in the wake of (palm) oil, canola (Canadian GM rapeseed) and soybeans, the latter posting the highest for many years, “said the firm Agritel in a note released Thursday.
This can be explained in particular by difficulties in the soybean harvest in Brazil or for palm oil in Malaysia, “combined with sustained demand on the international scene,” Agritel stressed.
In India, winter rapeseed production is estimated at 10.4 million tonnes, up from 9.1 last year, Inter-Courtage reports in a note.
Around 3:05 p.m. (2:05 p.m. GMT) on Euronext, a tonne of rapeseed gained 3 euros on the May deadline at 487.50 euros, but gave up 1 euro on the August deadline at 427.50 euros, for nearly 7,300 lots trades.
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