Tue, Jan 5, 2021 at 3:25 PM • AFP
Rapeseed prices were still rising sharply on Tuesday afternoon, supported by the entire oilseed complex as well as by climatic and logistical problems encountered in South America.
« C’is exactly the same as for the Soy in Chicago, ”responded Damien Vercambre, analyst at Inter-Courtage. He referred to “dry weather” problems, especially in Brazil, to which Chinese demand is likely to rise in the coming months, after having imported a lot from North America.
Another supporting factor for oilseeds is the strike in Argentina which continues: “after the workers of the oilseed processors, there were the dockers, and now, it is those who inspect the goods which are on strike”, declared Damien Vercambre, “it complicates the situation and increases the oilseed complex “.
Shortly before 2:45 p.m. (1:45 p.m. GMT) on Euronext, the ton of rapeseed climbed five euros on the February deadline, to 426.50 euros, and 4.50 euros on the May deadline, to 419.50 euros, for just over 6,300 lots traded.
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