SunSirs: China Domestic Rapeseed Prices Remain Stable This Week (November 17-24)
November 24 2023 14:22:53 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of domestic rapeseed on November 17th was 6,520 RMB/ton, while on November 23rd, the average market price of domestic rapeseed was 6,520 RMB/ton, and the quotation remained stable during this period. Recently, domestic rapeseed prices have remained stable. The downstream market demand is average. The supply of winter vegetable seeds is gradually decreasing, supporting the domestic rapeseed market. Spring rapeseed has been launched, but the production is not large and has little impact on the market. This week, the market for rapeseed meal and oil both fell. The inventory of winter vegetable seeds in the market is gradually depleting, and traders have a strong willingness to negotiate. It is expected that domestic rapeseed will remain stable.
On November 22nd, Canadian rapeseed futures on the Intercontinental Exchange (ICE) closed lower, retreating from a one month high and closing below the 50 day moving average for the January period.
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