Rapeseed Market at Euronext Weaker – Canola Continues Upward Trend

The rapeseed market at Euronext closed the week with losses on Friday. The most actively traded May contract fell by 6.25 EUR to 516.50 EUR/t. However, every week, there was still a slight gain of 1 EUR (0.2%). Soybeans and soybean meal also declined before the weekend, while soybean oil recorded gains. The March soybean contract at CBoT closed down 11 cents at 1,049.5 ct/bu (373 EUR/t). Compared to the previous week, this still marks an increase of 7.5 ct (0.7%).

The European rapeseed market remains in a sideways trend. For over three months, the May contract has been moving within a narrow range, despite occasional fluctuations. Similarly, the new crop contracts continue to struggle to break above the 500 EUR/t mark.

The rapeseed market is currently supported by rising vegetable oil prices and the continued recovery of the Canadian canola market. The March canola contract at ICE Winnipeg rose by 6.60 CAD to a three-month high of 656.80 CAD/t on Friday. The weekly gain amounted to 19.70 CAD (2.9%).

The bullish sentiment was further strengthened on Friday by a report from Statistics Canada, which revealed that canola stocks as of December 31 totalled 11.38 million tons, representing a 19.2% decrease compared to the previous year and below the average trade estimate of 11.85 million tons. Similar to Germany, many farmers have already sold a large portion of their old crop rapeseed and are waiting for higher prices before making additional sales.

Euronext (MATIF) Rapeseed

(As of February 10, 2025, 14:45 CET)

The coming trading sessions will determine whether the European rapeseed market can continue to stabilize or faces renewed pressure.

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