EU Rapemeal
06/05/11 -- EU rapemeal prices continue with their ginger-haired stepson impersonation today, with front month May having opened up to a EUR5.00/tonne discount to the remainder of the old crop Jun/Jul position. Spot May is also now a EUR3.00/tonne discount ot new crop Aug/Oct, a sure sign of oversupply and lack of demand. A month ago it was a EUR10.00/tonne premium and now it's lost EUR16.00/tonne in a week.
At home the crushers reputedly have only 50% of their May/Jul rapemeal sold, shifting the rest of it might be like trying to get toothpaste back into the tube.
Here's the latest guide prices for EU rapemeal, basis FOB Lower Rhine in euros/metric tonne, with change from previous day:
| May11 | 170.00 | -3.00 |
| Jun/FH Jul11 | 175.00 | -1.00 |
| Aug/Oct11 | 173.00 | -1.00 |
| Nov11/Jan12 | 174.00 | -3.00 |
| Feb/Apr12 | 175.00 | -4.00 |
| May/Jul12 | 175.00 | -4.00 |
| Aug/Oct12 | 170.00 | -5.00 |