SunSirs: China Domestic Rapeseed Prices are Running weakly
November 10 2023 13:12:37 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of domestic rapeseed on October 16th was 6,560 RMB/ton. On November 9th, the average market price of domestic rapeseed was 6,520 RMB/ton, with a decrease of 0.61% during the period. During this period, domestic rapeseed prices were relatively weak. In order to facilitate transaction, market prices have declined. The downstream market is mainly focused on hard demand procurement, with average market demand. Spring rapeseed is on the market, but the production is relatively low, and the supply of winter rapeseed is gradually decreasing, limiting the potential for domestic rapeseed to decline. This week, the market for rapeseed meal has slightly increased, while the market for rapeseed oil is weak. There is not much inventory of winter vegetable seeds in the market, and traders have a strong willingness to negotiate. It is expected that domestic rapeseed will remain stable with little change.
Vancouver, November 8th news: On Wednesday, the Canadian rapeseed futures market on the Intercontinental Exchange (ICE) closed lower, with the benchmark period closing down approximately 0.2%.
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