Today, Zhengzhou Rapeseed Meal futures opened lower and then fluctuated with adjustments.

Today, Zhengzhou rapeseed meal futures opened lower and then traded sideways in consolidation. Canadian rapeseed futures fell; the benchmark contract closed down 0.83%, extending last week’s decline, mainly because the implementation of U.S. biofuel policy triggered profit-taking by long positions. However, with international crude oil rising and Chicago soybean oil strengthening, the downside for rapeseed was limited. Rapeseed meal spot prices are mainly steady. In the domestic rapeseed meal spot market, trading remains subdued. Influenced by stable operating rates at coastal crushers and expectations of abundant far-month rapeseed meal supply, the market stays cautious, with procurement driven mainly by just-in-need buying. In the short term, it will continue to focus on range-bound consolidation. (China Feed Industry Information Network)