According to the monitoring of the commodity market analysis system of the SunSirs, after the May Day holiday, the domestic rapeseed market has shown a strong trend. On May 10th, the average market price of domestic rapeseed was 6,028 RMB/ton, an increase of 0.53% from the initial quotation in May. Starting from mid to late April, new rapeseed has been gradually launched in Yunnan, and in early May, new rapeseed has also been launched in Sichuan and Hubei. Due to the lower than expected quality of new rapeseed, the market price of aged rapeseed has slightly increased. In the early stages of the launch of new rapeseed, the quality was poor, and coupled with significant differences in rapeseed quality across different regions, the opening price was lower than last year, leading to a strong wait-and-see sentiment in the market. Due to the impact of cold wave weather in Hubei region in the early stage, rapeseed production has decreased, supporting the rise of domestic rapeseed market. During the May Day holiday, the trend of foreign soybean prices was relatively strong, driving up the domestic oil and vegetable market after the holiday and boosting the domestic rapeseed market. With the large-scale launch of new season rapeseed, the downstream procurement pace may increase, and it is expected that the trend of domestic rapeseed may be stronger.

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