Canada predicts a decrease in acreage Canalou

2018-05-02 12:24:10
Canada predicts a decrease in acreage Canalou

the canadian Bureau of statistics predicts that the acreage under the crop Canalou 2018 will be reduced by 7.1% to 21,382 million acres, while traders expected growth by 3-6% to 23.6-24.3 million acres.

 

the price of canola in Chicago from Friday fell 535 CAD/t to 529,9 CAD/t or 413,37 $/t

 

On Euronext August rapeseed futures rose 1.5 €/t to 344,75 €/t, however, due to the depreciation of the Euro price in dollars remained at the level of 413,87 $/t

 

Over the past month in the Chicago soybean futures dropped 0.7% and is trading at 386,08 $/t, for soybean oil fell by 4.8% to 672,85 $/t, while soybean meal increased by 2.1% to 443,46 $/t

 

a Decline in prices for palm oil for the month by 4% to 2362 Ringgits/t or 601,2 $/t on the background of reduction of prices on Brent oil to 73,51 $/bbl gives impetus for the further reduction of prices on vegetable oil.

 

However, the price for sunflower oil is growing due to reduced production in Ukraine and Russia on the background of increasing demand from major importers. Production of sunflower oil in Ukraine in January-March 2018 amounted to 1,279 million tons, which is 12.8% lower than the level of the corresponding period in 2017. India, which is the main importer of Ukrainian sunflower oil, has now reduced the import of palm oil by opting for a more high-quality sunflower oil.

 

the Price of Ukrainian sunflower oil on FOB basis rose to 765-775 $/t, and in Europe on FOB Rotterdam NL the price remains at 805 $/t