German prices for oilseed meals have climbed significantly since the beginning of August 2020 - particularly in September.
Rapeseed meal surged €22 to €238 per tonne within a month and briefly reached its highest level since May 2020.
Prices for soybean meal rose €38 per tonne in the same period. Consequently, soybean meal with 49% crude protein most recently cost €380 per tonne and soybean meal containing 44% crude protein was at €355 per tonne. This was the highest price level in five months.
According to information published by Agrarmarkt Informations-Gesellschaft, September rapeseed meal prices on the German cash market were mainly driven by two factors.
Demand was steady, and in some regions even brisk, over the past four weeks while supply on nearby positions was limited, particularly in the west of Germany.
In September, soybean meal benefited mainly from firm stock price quotes in Chicago. The latter rose 10% on the previous month, driven by continued buoyant demand from China for US soybeans.
Popular News Stories
LATEST VIDEOHow sustainable aviation fuel (SAF) is making its way in the aviation sector