Rapeseed Market Rebounds at Euronext – May Contract Gains Amid Stronger Canola and Soybeans

The Euronext rapeseed market saw a moderate recovery on Thursday, with the May 2025 contract closing up by 4.25 EUR at 516.75 EUR/t. Meanwhile, the February contract, nearing expiration, remained unchanged at 498.00 EUR/t. The new crop contracts, including August 2025 (484.00 EUR/t) and November 2025 (485.00 EUR/t), also saw modest gains.

The CBOT soybean complex provided support, with soybeans and soybean meal trading higher, while soybean oil remained stable. The March 2025 soybean contract at CBOT rose by 12.25 cts to 1,072.75 cts/bu, driven by ongoing weather concerns in Argentina and slow harvest progress in Brazil.

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Key Market Drivers:

1. Stronger Canola Prices:
   • ICE canola futures in Canada saw a significant upward move, gaining 8.40 CAD to 648.10 CAD/t.
   • Strong export demand and low farmer selling contributed to the rally.
2. South American Weather Uncertainty:
   • Argentinian soybean production is facing challenges due to continued dry conditions in key growing areas.
   • Brazil's harvest is progressing slower than usual due to excessive rainfall in Mato Grosso.
3. Stable Palm Oil Prices:
   • Malaysian palm oil futures remained firm, following higher crude oil prices and expectations of improving global demand.
   • Palm oil remains competitively priced but is facing stiff competition from soybean oil.

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Outlook

• The rapeseed market remains in a technical recovery mode after hitting recent lows.
• Canola’s strength and soybean market support could help sustain further gains.
• Export demand and currency fluctuations will be key factors influencing price direction.

Market participants are closely monitoring U.S. trade policies, South American production updates, and global vegetable oil trends to assess further price movement.

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