Oilseeds - Oils

Rapeseed: low exchange rate causes prices to rise

February 19, 2020 3:08 PM, Der AUDITOR
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HAMBURG. The Canadian canola market weakened after soybean oil prices in the USA fell and railway blockades put pressure on prices. Malaysia's palm oil exports declined slightly less than feared in the middle of the month. In Western Europe, a weaker euro exchange rate pushed up the price of rapeseed.

In Winnipeg rapeseed was trading at CAD 459.00 per metric tonne, which is CAD 2.00 less than yesterday. Rapeseed remained unchanged at EUR 402.75 per metric tonne at the front end in Paris. In Canada, protests and railway blockades over the planned Coastal GasLink pipeline through the province of British Columbia had fuelled fears of supply problems and put pressure on prices. Pressure was also exerted by the fall in soybean oil prices in the USA, as the new NOPA report revealed that soybean oil stocks in the USA had risen sharply in January, exceeding the previous

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