# Biofuel market heats up, but farmers are unlikely to follow.

> European rapeseed futures for August delivery rose to their highest since February, with biodiesel demand heating up and RME premiums widening. Farmers are holding seed stock, and rapeseed meal prices are under pressure from soybean meal overstocks.

- Date: 2020-06-24 · published 2020-06-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/52717-biofuel-market-heats-up-but-farmers-are-unlikely-to-follow
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Strong biodiesel demand supports rapeseed and vegetable oil prices, while weak rapeseed meal values reflect ample soymeal supply, so meal remains a cheap feed alternative.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- CANMEAL: bearish ▼

## Sources

- tridge.com: https://www.tridge.com/insights/JOL-D8694E16

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.