Rape prices in Ukraine remain high
Tridge summary
Over the past week, the stock market quotations for rapeseed, soybeans, soybean oil, August canola futures on the Paris Stock Exchange, December soybean futures in Chicago, September Brent crude oil futures, and November canola futures on the Winnipeg exchange have all seen sharp declines, leading to a drop in purchase prices for rapeseed in Ukraine despite high demand. Producers in Ukraine are withholding sales in hopes of price increases due to forecasts of decreased soybean and sunflower harvests from abnormal heat. Demand prices for rapeseed deliveries to the EU have also fallen, and EU rapeseed oil prices continue to decline as supply increases.
Original content
Over the past week, stock market quotations for rapeseed, soybeans and soybean oil fell sharply, which led to a drop in purchase prices for rapeseed in Ukraine, although demand for it remains quite high. August canola futures on the Paris Stock Exchange remain under pressure from falling oil and soybean oil prices and are trading at €467.25/t or $509.5/t, in line with last month’s level, although they have risen over the period and fell by 10%. December soybean futures in Chicago fell 7.3% to $998/t since July 8, giving up the speculative gains of the previous two weeks, but still 3% above last month’s reading. September Brent crude oil futures for the same period fell by 2.4% to $83.8/barrel, which is almost in line with the previous month’s level. November canola futures on the Winnipeg exchange fell 4.7% to CAD 621/t or $454/t during that time (-0.6% for the month). In Ukraine, the purchase prices for rape with delivery to the Black Sea ports for the week decreased by 300-500 …
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