On January 10th, ICE Canadian Winnipeg Commodity Exchange rapeseed futures market closed up, main due to the CBOT (CBOT) soybean and soybean oil go to strength. meatball machine
At the closed, March contract rose 7 Canadian dollars, to close at 593.10 Canadian dollars per ton; May contract rose 7.30 Canadian dollars, to close at 599.80 Canadian dollars per ton.
Analysts said the U.S. soybean and soybean oil market soaring, bringing parity boost for the rapeseed market, and attract enthusiastic market bull. Most trade related to the fund operation. U.S. Department of Agriculture will be released a supply and demand report of January on January 12th, so active position adjustment.
Canadian dollar go to weakness, the processing profit improve, farmers reluctant to sell goods store, all good to the disk. meatball machine
International crude oil go to Strength, European rapeseed futures rose, further boost bullish sentiment rapeseed market.
Argentinean agricultural areas will rains during the weekend, improved local crop conditions, to contain the oilseeds market prices increase space. But brokers point out that Argentinean agricultural areas are still urgent need for more precipitation, weather conditions overall have advantages to crop.
Supply and demand report of January will be introduced soon, the Canadian traders are more cautious, market wait and see attitude strong. meatball machine