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Today, Zhengzhou rapeseed meal futures opened lower and then fluctuated and adjusted.
Today, Zhengzhou rapeseed meal futures opened lower and then fluctuated and adjusted. Canadian rapeseed futures continued to rise, with the benchmark contract closing up 0.3%, mainly supported by technical buying. Rapeseed meal followed with a slight decline, currently the rapeseed meal market is mixed with both bulls and bears. The tense situation in the Middle East, high crude oil prices, and the sustained high levels of international oils and ICE rapeseed prices will continue to support rapeseed meal prices. On the other hand, market concerns over Brazilian soybean supplies have eased, suppressing protein meal prices, while coastal crushing plants’ capacity gradually recovers. The expectation of ample future rapeseed supply remains strong, limiting the room for rapeseed meal price increases. (Feed Industry Information Network)