SunSirs: Good News, China Rapeseed Meal and Rapeseed Oil Prices was Rising

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of rapeseed meal on June 30th was 3,565 RMB/ton, and on July 5th, the average market price of rapeseed meal was 3,766 RMB/ton, with an increase of 5.66% during the period. On June 30, the average price of Rapeseed oil in the Spot market was 9,113 RMB/ton, and on July 5, the average price of Rapeseed oil in the Spot market was 9,520 RMB/ton. During this period, the quotation rate increased by 4.46%.

On Monday (July 3rd), rapeseed meal prices rose, and last Friday (June 30th), the USDA area report lowered the planting area of American beans to 83.5 million acres, a decrease of 4 million acres from the earlier expected 87.5 million acres. The positive report boosted the market, with a significant increase in spot oil futures on July 3rd. Zheng Meal rose 8.02%, Zheng Oil rose 6.59%, and spot prices followed suit. The impact of El Nino weather has led to concerns about reduced rapeseed production in Canada and Australia. The report, along with weather factors, has boosted spot prices of rapeseed meal and oil. In terms of rapeseed meal, it is expected that there will be a decrease in rapeseed arrivals to Hong Kong from June to July. Aquaculture is in the peak season of demand, and the market is selling well. The demand for rapeseed meal is still good, which is beneficial for the rapeseed oil market. In terms of vegetable oil, consumption is in the off-season, suppressing vegetable oil prices.

The demand for rapeseed meal is in the peak season, and it is expected that the trend of rapeseed meal fluctuation will be mainly strong. Vegetable oil consumption is in the off-season, and inventory is at a high level. It is expected that vegetable oil will fluctuate and adjust mainly.

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