SunSirs: China Rapeseed Prices Increased Last Week (September 1-8)

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of domestic rapeseed on September 1st was 6,480 RMB/ton, and on September 7th, the average market price of domestic rapeseed was 6,548 RMB/ton, with a rise of 1.05% during the period. Last week, the price of rapeseeds increased slightly. Downstream consumption of rapeseed has improved, and market sales have increased. Affected by bullish market sentiment, traders are reluctant to sell, and it is expected that domestic rapeseed prices will fluctuate strongly in the short term. According to the monitoring of the Commodity Market Analysis System of SunSirs, the decline in rapeseed meal market this week was 1.51%. The decline in rapeseed oil prices this week was 2.56%.

On Thursday, the Canadian rapeseed futures market on the Intercontinental Exchange (ICE) fell, with the benchmark period closing approximately 1.55% lower. As of the end of the trading day, rapeseed futures fell by between CAD 9.20/ton and CAD 12.30/ton, with the November period closing approximately CAD 12.30 lower at CAD 782.90/ton; The January period closed approximately CAD 11.60 lower at CAD 791 per ton; The March period closed approximately CAD 10.90 lower at CAD 795.10/ton.

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