Key points on the oilseed market

  • New sales of U.S.-origin soybeans to China

  • Spain has bought U.S.-origin soybeans

  • Rapeseed declines in the wake of other oilseed markets, despite rising oil prices

  • Priority given to transporting edible oils destined for export in Ukraine

 

Brent exceeds 110 $/barrel while the dollar strengthens 

  • The contract December Brent futures was still rising on Wednesday by 0,85 % to 110,09 $/barrel, while the November West Texas Intermediate (WTI) contract fell back by 0,52% to 97,8 $/barrel. This Thursday morning at 6 h 44 (Paris time), Brent prices were still rising by 0,78 %, while those of WTI were gaining 0,88 %.

  • The energy market reacted to a drone attack on the Shaybah oil field in Saudi Arabia, as well as to a decline in U.S. crude oil inventories.

  • At the same time, the euro depreciated against the dollar again on Wednesday. It was trading at 1,1233 dollars against 1,1238 dollar on Tuesday, while the yield on the French OAT exceeded 5%.

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Soybean prices on the Cbotgave up ground this Wednesday 21 October 2026: - 5,25 cts$/bu., to 1 258,25 cts$/bu., for the most actively traded January 2027 contract, and -3 cts$/bu., to 1 245,25 cts$/bu., for the nearest November 2026 contract. This is the eighth consecutive session of declines. The drop applies across all contracts offered for trading and is more pronounced (between 7 and 10 cts$/bu. for all those from March 2027 to July 2029). On Euronext, rapeseed prices fell 4,75 €/t, to 540,25 €/t, for the most actively traded February 2027 contract, and – 5,25 €/t, to 543,75 €/t, for the second most active May 2027 contract. The November 2026 contract, the nearest one, whose last trading day will be 30 October (with another 6 768 open positions), closed down 8,25 €/t, at 485,75 €/t. Rapeseed prices Colza Fob Moselle have decreased.

First of all, note that markets were very volatile this Wednesday across all financial markets, with new announcements concerning the Russia-Ukraine conflict: Ukrainian President Volodymyr Zelensky, who met with Steve Witkoff yesterday, reportedly announced that he was ready to freeze the front line before beginning negotiations, while Russian President Vladimir Putin reportedly said he was ready to resume negotiations with Ukraine.

For everything you need to know about agricultural market news, click here  

The session in soyThe Wednesday Cbot session was driven by technical selling and fund selling. In the United States, market participants expect the harvest pace to accelerate and rise above the five-year average after a start disrupted by rain. For many market analysts, global supply is abundant, but demand is slowing, so there is no reason to buy heavily at the moment. In addition, traders have factored in a new sale of U.S.-origin soybeans to China and also to Spain (see International Trade). This is the sixth consecutive day that China has purchased U.S.-origin grain, but this latest announcement had little effect on prices because the market had expected these purchases. Sinograin, the state-owned grain storage company, announced a new auction for 27 October to sell 512 000 t ofand soybean seeds acquired in the past, which, once again, is probably a sign of further purchases to come.

The prices of soybean meal and ’soybean oil were down this Wednesday on U.S. markets.

Internationally, at Brazil, Anec revised its export forecasts downward for October, and Conab will publish its monthly update on the soybean sector on 13 November. Sowing is continuing at a good pace, with weather conditions generally favorable.

In China, the activity of triturationIt was up last week (2,22 Mt compared with 1,21 Mt the week before). A simple resumption of activity after a week of celebrations for the founding of the People’s Republic, or a genuine underlying trend? To be followed next week, especially as bean stocks remain above their level on the same date last year.

Le rapeseed on Euronext has also lost ground, following other oilseed and derived oil markets, despite a rather rising price for the Brent crude oil benchmark (Europe). In its weekly traders' positions report, Euronext notes that, as of Friday 16 October 2026, financial operators had reduced their net long position in rapeseed (by around 14 300 lots), bringing it to around 31 600 lots.

The canolaquoted at Winnipeg has also lost ground, with prices below 800 Canadian dollars per tonne for the two most actively traded November 2026 and January 2027 contracts. Farmers are selling, and market participants are liquidating positions. The Canadian dollar also remains strong on foreign-exchange markets, which does not favor exports. However, the price levels reached for Canadian seed make it more attractive than EU-origin rapeseed.

The courses of the’palm oil listed in Kuala Lumpur also declined, amid profit-taking and strength in crude oil prices.

The courses of the oleic sunflower in Saint-Nazaire rendering have progressed.

En Ukraine, the government has established procedures to give priority to the transport of edible oils (sunflower, soybean, and rapeseed) intended for export. This applies to ports, trains, and road transport.
 
International trade :
  • United States, soybeans, sales : 134 000 t to China in the 2026/2027 campaign and 165 000 t to Spain in the 2026/2027 campaign (source: USDA)
  • Brazil, soybeans, exports : views at 6,4 Mt for the month of October versus 6,55 Mt last week (source: Anec)
     

French physical markets of 21 October 2026 (July basis for cereals)

Sunflower Specifications Deadline euro/t   Variation
Bordeaux rendering oleic Harvest 2026 Oct.–Dec. 615,00 A 5,00
Saint-Nazaire rendering oleic Harvest 2026 Oct.–Dec. 620,00 A 10,00
Colza Specifications Deadline euro/t   Variation
Rouen rendering Harvest 2026 Jan.–Mar. 539,00 A -14,00
Fob Moselle Harvest 2026 Jan.–Mar. 542,00-546,00 A/V -17,00
Soybean meal Specifications Deadline euro/t   Variation
Montoir Departure 48% profat pellets Brazil Nov. 457,00 V -9,00
  48% profat pellets Brazil Dec. 457,00 V -9,00
Pois Specifications Deadline euro/t   Variation
Marne departure Forage Harvest 2026 Oct.–Dec. inc.    
Departure Somme/Oise Forage Harvest 2026 Oct.–Dec. inc.    

Commercial quotations for dairy products of 15 October 2026

Milk powder Specifications Deadline euro/t   Variation
  NBPL departure in 30 days 5% H BT bulk available. 3275,00 N  
Whey powder Specifications Deadline euro/t   Variation
  NBPL departure in 30 days, BILA pH 6 bulk available. 1650,00 T  
Buttermilk Specifications Deadline euro/t   Variation
  without a standard available. n.p.    
  Dutch standards available. n.p.    

Dollar / euro exchange rate on 21 October 2026

Devise Value at closing
1 US dollars 0,8902 euro
1 euros 1,1234 dollar

Chicago futures market close on 21 October 2026

Raw materials Closing Chicago
Soy 1245,25 cents/wood.
Soybean meal 348,30 $/t
Soybean oil 65,97 cts/livre

Euronext futures market close on 21 October 2026

Colza (Euronext)
Deadline Closing
Nov. 2026 485,75
Feb. 2027 540,25
Mai 2027 543,75
Volume 25664

International market quotations of 21 October 2026

Energy Deadline Value at closing
Oil (Nymex) Dec. 2026 97,15 $
Maritime freight indices from 21 October Variation
Baltic Dry Index (BDI) 2680 87,00
Baltic Panamax Index (BPI) 2204 -43,00
Baltic Capesize Index (BCI) 3793 271,00
Baltic Supramax Index (BSI) 1870 2,00
Baltic Handysize Index (BHSI) 1019 2,00

Oilseed market of 21 October 2026 – Soybean prices on the Cbot and rapeseed prices on Euronext fall — Illustration 1