SunSirs: China Domestic Rapeseed Prices lowered
June 13 2023 10:00:44 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of domestic rapeseed on June 2 was 6,484 RMB/ton, and on June 8, the average market price of domestic rapeseed was 6,300 RMB/ton, with a price drop of 1.91% during the period. Last week, domestic rapeseed prices have been continuously declining, and a large number of new rapeseed have been launched. The market has a strong wait-and-see sentiment, with a bearish attitude towards the future market. Downstream procurement is mainly in demand, and market demand is average. In the short term, it is expected that the price of new rapeseed will be mainly weak in a narrow range.
On June 8th, the Canadian rapeseed futures market on the Intercontinental Exchange (ICE) rose for the third consecutive trading day, with the benchmark period closing up approximately 1.40%, reversing the early decline. By the end of the day, rapeseed futures had risen by 8.70 Canadian dollar to 15.20 Canadian dollar, of which July futures had risen by about 9.60 Canadian dollar to close at 679.80 Canadian dollar per ton; The November delivery ended up about 8.90 Canadian dollar, closing at 656.30 Canadian dollar/ton; The January delivery ended up about 8.80 Canadian dollar to close at 662.80 Canadian dollar/ton.
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