SunSirs: Stable China Domestic Rapeseed Market during Off-season
August 18 2023 14:32:01 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of domestic rapeseed on August 10th was 6,480 RMB/ton, and on August 17th, the average market price of domestic rapeseed was 6,484 RMB/ton, with a rise of 0.06% during the period. Recently, domestic rapeseed prices have remained generally stable. Rapeseed consumption is in the off-season, oil mills are operating less, traders are slow to sell, and market quotations are mainly stable. In the short term, it is expected that domestic rapeseed prices will remain stable. According to the monitoring of SunSirs Analysis System, the rapeseed oil market in this cycle (8.10-8.17) fluctuated in a narrow range and rose by 0.59%, while the rapeseed meal market in this cycle rose by 1.51%.
On August 16th, foreign media reported that the Canadian rapeseed futures market on the Intercontinental Exchange (ICE) closed higher on Wednesday, with the benchmark period closing up about 1.7%, reaching its highest level in more than a week. As of the close, rapeseed futures have risen from7.70 CAD/ton to 13.30 CAD/ton, with the November period closing approximately 13.30 CAD/ton higher at 790.70 CAD/ton; The January period closed approximately 13.10 CAD/ton higher at 796.60 CAD/ton; The March period closed approximately 12.70 CAD/ton higher at 799.40 CAD/ton.
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