The collapse of quotations for rape on the stock exchange in Paris lowers the purchase prices in Ukraine

A sharp fall in August canola futures on the Paris Stock Exchange surprised traders as the canola harvest is not yet complete and rains in France and Germany are delaying the harvest and causing losses and reduced crop quality.

Over the last three sessions, August rapeseed futures in Paris fell by 4.5% to €472.5/t or $513/t (+2.1% for the month), and November - by only 1.6% to €493.5/t or $536/t (+5.3% for the month). This indicates a high level of demand, and the fall in August futures is associated with an increase in supplies as the harvest is harvested.

November canola futures on the Winnipeg exchange fell 0.6% to CAD 671/t or $486/t (+8.9% on the month) after last week's 9.5% gain over the past three sessions, despite in the heat of the prairies. According to forecasts, dry and hot weather will prevail in the country next week, which is unfavorable for canola, which is in the phase of crop formation.

Purchase prices for rapeseed in Ukraine fell by 500-700 UAH/t in two days to 22,800-23,000 UAH/t or 470-475 $/t with delivery to Black Sea ports after reaching 23,500-23,700 UAH/t last week , so farmers reduced sales.

Traders have already contracted more than 1 million t of new crop rapeseed and continue active purchases for export to the EU. Demand prices for rapeseed deliveries to the EU DAP Czech Republic and Germany in July-August remain at the level of 465-470 €/t.

Oil prices remain stable, so next week the main factor supporting rape quotes will be the weather in Canada.