Evaluation of rapeseed crop in the EU in 2017/18 MG reduced by 340 thousand tons

Analysts Strategie Grains has lowered the forecast of gross yield of rapeseed in the EU in the 2017/18 season on 340 thousand tons to 21.4 million tons, for a prolonged lack of moisture within the European countries and reduce the temperature of the air in the end of April, the worsened prospects for the harvest of oilseeds.

Reduced the estimate of production and some other analysts. In particular, experts of the IGC forecast a rapeseed crop at 21.3 million tons.

Forecast rapeseed production is reduced mainly at the expense of Germany, which has reduced the crop estimate to 110 thousand tons to 5.14 million tons because of abnormally cool weather in late April. In addition, analysts ODA reduced the crop forecast of French rapeseed on 170 thousand tons to 4.3 million tons.

Adverse weather conditions, established over Europe in recent times, led to a noticeable strengthening of prices for canola. In the European market prices for August deliveries rose to 369 euros/t or 402,98 $/t