EU Rapemeal Values Decline Further

Posted by Nogger - a legend in his own mind at 11:41 | Categorized as

30/07/13 -- Rapemeal prices on the continent are lower once again. As nearby July comes into line with new crop, prices there have fallen EUR40/tonne in a week. Nov/Jan is down EUR20/tonne versus last Tuesday.

Oil World have increased their forecast for the EU rapeseed crop to 20.5 MMT. German output is estimated up almost 21% to 5.8 MMT, with production in Poland expected to jump more than 26% to 2.4 MMT, demoting the UK into 4th place in the EU rapeseed production table.

Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:

LH Jul13
220.00
-5.00
Aug13
210.00
-2.00
Sep13
207.00
-1.00
Oct13
204.00
-2.00
Nov13/Jan14
194.00
-6.00
Feb/Apr14
192.00
-5.00
May/Jul14
190.00
-5.00
Aug/Oct14
180.00
-4.00