In Germany, UFOP reports that asking prices for rapeseed and rapeseed meal have developed in opposite directions over the past few weeks and said it is doubtful whether this trend is going to persist. Wholesale prices for rapeseed and rapeseed meal moved at the same pace over much of the past year. However, an unusual situation arose in January 2018. Whereas rapeseed continued its downward trend, rapeseed meal prices firmed.
In the first five weeks of 2018, wholesale prices for rapeseed meal rose around 13 per cent to recently EUR 212 per tonne, whereas asking prices for rapeseed came down 1 per cent to EUR 347 per tonne. The reason for the contrasting changes in prices was a slight rise in demand for rapeseed meal combined with moderate supply, Agrarmarkt Informations-Gesellschaft (AMI) explained. Moreover, firm soybean meal prices driven by rising US soybean prices in Chicago lent support to the upward trend. Rapeseed did not benefit from this situation. However, the upward trend of US soybean prices has ended. Given that US prices are currently in decline, prices for rapeseed and its by-products are also likely to be re-calculated.