Oil prices show mixed movement

Global oil prices experienced contrasting trends on October 21, 2026. The Brent crude oil December contract increased by 0.85% to $110.09 per barrel, while the West Texas Intermediate (WTI) November contract decreased by 0.52% to $97.8 per barrel. These movements were influenced by a drone attack on the Shaybah oil field in Saudi Arabia and a decline in U.S. crude oil stocks.

Euro weakens slightly

The euro continued its downward trend against the U.S. dollar, exchanging at 1.1233 dollars on Wednesday compared to 1.1238 dollars on Tuesday. Meanwhile, the yield on French government bonds, known as OATs, surpassed 5%, indicating increased market concerns about borrowing costs.

Soybean prices fall further

On the Chicago Board of Trade (Cbot), soybean prices continued their decline, with the most traded January 2027 contract dropping to 1,258.25 cents per bushel and the November 2026 contract falling to 1,245.25 cents per bushel. This marked the eighth consecutive session of decline, with all contracts showing similar downward trends.

Rapeseed prices decline

On Euronext, rapeseed prices also fell, with the most traded February 2027 contract closing at 540.25 euros per tonne and the second most active May 2027 contract at 543.75 euros per tonne. The nearest November 2026 contract closed at 485.75 euros per tonne, with 6,768 open positions remaining. Rapeseed Fob Moselle prices also declined.

Market factors influence rapeseed

The decline in rapeseed prices occurred despite a rise in the Brent oil price and amid volatility in financial markets. New developments in the Russia-Ukraine conflict suggested Ukrainian President Volodymyr Zelensky might be ready to freeze the front line before negotiations, while Russian President Vladimir Putin reportedly expressed willingness to resume talks with Ukraine.

Soybean prices influenced by supply

Soybean prices on the Cbot were affected by technical selling and fund activity. In the United States, the harvest pace is expected to accelerate, with abundant supply and slowing demand reducing the incentive for large purchases. New sales of U.S. soybeans to China and Spain were reported, though these were largely anticipated by the market.

Brazil and China update soybean outlook

In Brazil, the Anec revised its export forecasts for October downward, while the Conab will release its monthly update on the soybean sector on November 13. Sowing activity continued at a good pace, supported by favorable weather conditions. In China, crushing activity increased to 2.22 million tonnes from 1.21 million tonnes the previous week, though it is unclear if this represents a genuine trend or a resumption after a holiday period.

Rapeseed prices fall further

Rapeseed prices on Euronext also declined, influenced by other oilseed markets and oils derived from them. Euronext's weekly report indicated that financial operators reduced their net long position on rapeseed by about 14,300 lots to reach approximately 31,600 lots as of October 16, 2026. Canola prices in Winnipeg also fell, with the two most traded November 2026 and January 2027 contracts below 800 Canadian dollars per tonne.

Other oilseed and oil prices fluctuate

Palm oil prices in Kuala Lumpur declined, influenced by profit-taking and firmness in black gold prices. Oleic sunflower prices at Saint-Nazaire increased. In Ukraine, the government prioritized the transport of edible oils (sunflower, soybean, and rapeseed) for export, affecting ports, trains, and road transport.

International trade and prices update

International trade data indicated 134,000 tons of soybeans sold to China and 165,000 tons to Spain for the 2026/2027 campaign. U.S. soybean sales for October reached 6.4 million tons, compared to 6.55 million tons the previous week. French markets reported various prices for sunflower and rapeseed, with specifications and expiry dates noted. Soybean meal prices also declined, with 48% profat pellets from Brazil dropping in price.

Currency and commodity prices close

The U.S. dollar closed at 0.8902 euros, and the euro closed at 1.1234 dollars. The Chicago futures market closed with soybean prices at 1,245.25 cents per bushel, soybean meal at 348.30 dollars per tonne, and soybean oil at 65.97 cents per pound. Euronext futures market prices for rapeseed were reported, with the November 2026 contract closing at 485.75 euros per tonne, February 2027 at 540.25 euros per tonne, and May 2027 at 543.75 euros per tonne. International energy prices and maritime freight indices showed variations, with the Baltic Dry Index rising and others showing mixed changes.