The USDA increased the forecast of the world rapeseed production by 2 million tonnes

Experts USDA the June report increased the forecast of the world rapeseed production in 2019/20 MG to 74.8 million tonnes, although more than 2 million tons figure 2018/19 MG, however, will yield a record 74,91 million tonnes of the season 2017/18.

to Increase the production of canola in Australia, Ukraine and China, could save – India, the US and the EU, while in Canada it will remain at the same level.

In comparison with the current season Ukraine will increase exports of rapeseed by 1 million tonnes to 3.5 million tonnes, Australia – on 400 thousand tons to 2.3 million tons, the Main exporter will remain in Canada, although it will reduce the export by 500 thousand tons to 10.1 million tons.

the Main importers of rape will also remain unchanged. The EU will increase imports by 6.7% to 4.8 million tons, China – 2.5% to 4.1 million t, Japan by 1.4 percent to 2,485 million tons.

supported the sharp rise in soybean prices, the August rapeseed futures in Paris Euronext are traded on 371,75 €/t or 416,05 $/tonne, and November – by 374,25 €/t or 418,86 $/t. in addition, they support the growth of prices on canadian canola, which for the month rose 8% to 474 CAD/tonne or 354 $/t

Dry weather in the Canadian prairies can reduce canola yield, although next 5-7 days, the meteorologists promise a little precipitation in the major regions of its cultivation.

Ukraine hot weather with periodic rainfall, and sometimes hail, will allow you to collect a good harvest of rapeseed. For canola a new crop with delivery in July-August offer of $400/t or 12400-12500 UAH/t, but in the case of a large harvest, prices can gradually be reduced.