Only a few weeks ago the situation facing the European oilseed rape market seemed hopeless. But this has now changed. Since hitting a low point on 17 January in Paris, oilseed rape futures for May delivery then rose by 15 €/t to 360 €/t, only to fall again to 348 €/t by mid-April. The positive signs stem from price developments on the soya bean market. Since the start of the year, May soya bean prices in Chicago have risen by 30 $/t to 385 $/t. The price of soya meal soared from 350 $/t to 420 $/t. At the same time, oilseed rape prices are being held back by the downturn in the vegetable oil market. The price of rapeseed oil has fallen by 90 €/t to 640 €/t since the start of the year. The trend reversal in the soya bean oil market is driven by the weather in South America, which has disrupted the growing season and harvest in Argentina and Brazil, and the possible trade dispute with China. The latest market factors and their impact on
future price developments are discussed below.