Rapeseed prices on Euronext fell on Tuesday in a weak market environment. Falling crude oil and palm oil prices put pressure.

Euronext Rapeseed Futures Drop

Euronext rapeseed futures were under pressure on Tuesday. The November front month fell by EUR 5 to EUR 463.25 per tonne. The soya complex in Chicago also closed in the red. November beans lost 20.75 cents to 997.25 ct/bu on the CBoT. Canola in Winnipeg, palm oil in Kuala Lumpur and crude oil markets were also in the red.

Broad Decline in Oilseed Markets

The oilseed market was broadly lower on Tuesday under pressure from several sides. Global economic worries could weigh on demand, pushing crude oil prices to a 16-month low. Gasoline fell to a three and a half year low. Another negative factor for the market was the increase in palm oil stocks in Malaysia. These rose to a six-month high in August. High production and lower exports were cited as the reasons. Crude palm oil production in August rose 2.87 percent from July to 1.89 million tonnes, the highest since October 2023, according to MPOB data released on Tuesday. Production was the highest in an August since 2015 and analysts expect September output to be higher too, but there are no signs yet of demand rising in key markets such as India and China.

USDA Report Supports Soya Beans

Soya beans fell in Chicago on the back of a better-than-expected stock assessment in the Crop Progress Report. The report, released by the US Department of Agriculture (USDA) on Monday evening after the close of trading, showed that 65% of soybean acres were rated unchanged as "good" or "excellent", while analysts had expected a deterioration.

High Canadian Canola Stocks Weigh on Market

Canola in Winnipeg suffered from the high Canadian stocks reported by the Statistics Canada on Monday. However, as with rapeseed in Paris, falling vegetable oil and crude oil prices had a particularly negative impact.

Chinese Soybean Imports Surge in August

Chinese soybean imports totalled 12.14 million tonnes in August, according to the country's customs data. The People's Republic is thought to be replenishing its stocks in preparation for the expected escalation of trade conflicts if Donald Trump wins.