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February rapeseed on Euronext Paris rose sharply on November 1, with its largest one-day gain in over three months, closing EUR4 higher. The move broke resistance at the 67% retracement level and approached the July high, with commercial buying supporting prices.
Rapeseed strength tied to euro weakness against the dollar supports European oilseed meal values, which feed buyers compete for. The price action is technical and currency-driven, so the impact on meal prices is modest.
dtnpf.comCliff JamiesonNov 1, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
