The day ended with Jan 17 London wheat down GBP0.55/tonne at GBP138.00/tonne, Dec 16 Paris wheat was up a euro at EUR162.00/tonne, Jan 17 Paris corn was down EUR0.25/tonne to EUR164.50/tonne and Feb 17 Paris rapeseed was up EUR3.50/tonne to EUR408.00/tonne.
The most noteworthy item of the day was OPEC's decision to cut crude oil production for the first time in 8 years. That sent crude surging, taking rapeseed along with it for the ride.
Paris rapeseed futures subsequently settled at their highest level since Apr 2014.
Rapeseed oil prices are up 10% on a year ago, and soybean oil prices have surged 21% during this time, note the HGCA.
"For rape oil, the increases are a further signal of the tight rapeseed situation we find ourselves in this year, as well as being boosted by other vegetable oils including palm oil," they say.
Earlier this week Oil World estimated EU Nov 1 rapeseed stocks down 12% y-o-y at a 5-year low of 13.4 MMT.
In other news, Rusagrotrans said that Russia had exported 3.95 MMT of grains in November - a record volume for the month and 26% more than in Nov 2015.
Total season to date exports (Jul/Nov) still slightly lag year ago levels however at 17.72 MMT versus 17.92 MMT.
The Russian Ag Ministry said that their 2016 wheat harvest was 98.2% complete at 75.9 MMT. Corn harvesting is 83% done at 13.9 MMT.