The rapeseed crop in Ukraine were significantly lower than expected
Due to the increase in acreage is 25% and good condition of the crops in spring experts predicted rapeseed production in Ukraine in 2019 at the level of 3.3 to 3.9 million tons.
thus, APK-inform Agency estimated the crop at 3.6 million tonnes, the Institute of agroekonomika – in 3,313 million tons, USDA – 3.9 million tons compared to 2.8 million tonnes in 2018/19 Mr. Exports of rapeseed predicted in the range of 2.8 to 3.3 million tonnes compared with a 10-year high of 2,452 million tonnes in 2018/19 Mr, which is 16% higher than the previous season.
According to the Ministry of agrarian policy, as of August 2 in Ukraine, with 1.2 million hectares or 98% of the area, and produced 3 mln tonnes of rapeseed with a yield of 2.45 t/ha, which significantly declined as a result of the June heat, which came in the period of seed ripening and resulted in low oil content.
In the EU rapeseed production is also significantly reduced due to the reduction of sown areas under winter rapeseeds and decrease in yield in Germany and France compared to the previous year due to the drought.
Traders try to predict the harvest of canola in Canada, where the dry weather and the reduction in acreage of oilseed production in 2019/20 MG will decrease compared to the previous season. Although experts FarmLink Marketing Solutions expect yield growth to 39.9 bushels/acre, which exceeds the figure for the previous year and will increase the harvest.
the price of rapeseed on Euronext under pressure from falling soybean market slid on Friday to 1.75 €/t to 374,5 €/t or 416,6 $/ton, losing for the week 3.5 €/t
prices of canola in Winnipeg for the week decreased from 450 to 444 CAD/t or 336,3 $/t
In Ukraine, the price of canola at the port remain at 394-396 $/t or 11850-11950 UAH/t. Traders are reluctant to raise prices amid rising offers from manufacturers, which primarily sell rapeseed, constraining sales of wheat and barley through too low prices.
