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German wholesale rapeseed meal asking prices fell nearly 13% over recent weeks to EUR 186 per tonne ex production facility, due to rising new-crop supply and lower feedstock prices. Brazilian GMO-free soybean meal eased only 3.5% from early June to EUR 442 per tonne, so rapeseed meal became substantially more competitive.
Cheaper rapeseed meal relative to soybean meal gives European feed buyers a substitution incentive, which pressures soybean meal demand and supports the lower canola meal price.
biofuelsdigest.comadminAug 5, 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.
