Euronext rapeseed futures step over EUR 800 a ton
Euronext February rapeseed futures rose to EUR 808.5 a ton on Wednesday, Jan. 5, finance.yahoo reports. The price for rapeseed reached an all-time high.
After this uptick, prices dropped slightly to €796.75 per ton.
As reported by GrainTrade, the speculative increase in rapeseed prices on the Paris exchange is associated with a prolonged rise in biodiesel prices. Meanwhile, the supply of rapeseed in the EU is tight and imports from Canada and Australia remain low.
Meanwhile, May futures rose by EUR 5 a ton to EUR 754.5 on Jan. 5, while August new crop rapeseed futures rose by EUR 11.75 a ton to EUR 585.75.
As a reminder, rapeseed rose to EUR 780 a ton on Euronext in late December.
In the 2020/21 season, rapeseed production in Ukraine totalled 2.9 mln t, the average yield stood at 2.86 t/ha. Winter rapeseed planting was 99% completed.