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European rapeseed prices rose on March 3, 2020, with Winnipeg canola up C$5.50 to C$459.30 per tonne and Paris rapeseed up EUR 5.00 to EUR 385.75 per tonne. Firmer U.S. and Malaysian biofuel-related targets, higher crude oil, and stronger Chicago soybean and Malaysian palm oil prices supported the gains.
Higher vegetable oil and crude prices lift oilseed values and the cost of rapeseed meal for feed buyers, while stronger biofuel demand supports the oil side of the crush.
mundus-agri.euMar 3, 2020Not enough comparable past events yet for a historical read.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
