China Rapeseed Meal Futures Plunge 2.95% as Import Costs Collapse on Crude Oil Rout

According to research from Huawen Futures, China's rapeseed meal (RM) futures main contract RM2609 closed at 2,335 yuan per ton on July 28, down 71 yuan per ton or 2.95% for the day. International crude oil futures plummeted nearly 9% on Monday amid easing Middle East tensions, exerting heavy downward pressure on agricultural commodity markets.

CBOT soybean futures fell 3.33% to 1,211 cents per bushel on July 27, while U.S. soybean meal dropped over 3%, eliminating import cost support for rapeseed meal. Additionally, strong crop conditions in Canada drove the 2026/27 rapeseed production forecast up to 21 million tons, signaling greater global oilseed supply and looser import costs.