The price of rapeseed on Euronext fall under the pressure of increasing production forecasts in Australia

2021-04-05 12:02:02
Machine translation
The price of rapeseed on Euronext fall under the pressure of increasing production forecasts in Australia

On higher production forecasts of rapeseed in the EU and Ukraine, as well as canola in Australia, may futures on rapeseed on the Euronext stock exchange on Friday, has fallen by 20 €/t to 494 €/t or 581,2 $/ton, in General, over the last 10 days lost 6.3 per cent of the price. On the market under pressure from the decline in world prices for all vegetable oils by reducing demand and increasing sentences.

 

the experts of the Oil World has increased the forecast of the harvest canola in Australia in 2020/21 MG 0.35 million tonnes to 44 million tonnes, although other market players along with its 4.5-4.7 million so it is Also expected that in comparison with the previous season, Australia will increase exports of canola in 2020/21 MG from 1.56 million tonnes in the largest over the last 4 seasons of 3.1 million tonnes, including in the EU from 1 million tonnes to 2.5 million tonnes.

 

the Spread between may and August futures on rapeseed reached 75 €/t, and analysts expect that it will decrease due to rising August quotes or, more likely, depreciating the may contracts.

 

August futures on Euronext rapeseed on Friday fell by 7.5 €/t to 445,25 €/t or 523,8 $/t, then the difference between may and August contracts fell to 48,75 €/t

 

Despite increased export and processing of canola in Canada, may canola futures on the Chicago Board of SWOT in the last 10 days decreased by 6.7% to 743 CAD/t or 590,5 $/t, while the November remained at the level 622 CAD/t or 494,4 $/t as the crop forecasts remain the same as last year.

 

In Ukraine, the forward prices for rapeseed delivery port in July and August remain at 510-520 $/t, however, the manufacturers are in no hurry contractualise because the crop in the range of 2.2 to 2.7 million tonnes increase the uncertainty of the prospects for export.

Visitors’ comments (0):