The improvement of forecast of production of rapeseed and canola has led to falling prices
In June, the forecast of the world rapeseed production amounted to 72,575 million tonnes, which was 2,527 million tonnes more than last season.
Evaluation of rape production increased:
- for Canada at 2.5 million tonnes (18.5 to 21 million tons),
- Ukraine – 0.85 million tonnes (1.25 to 2.1 million tons),
- EU – 0.73 million tonnes (20,397 to 21.1 million tonnes).
the Largest producers of rapeseed in the world are:
- the EU – of 29.07% of the global harvest
- Canada – 28,94%,
- China – of 18.05%,
- India – of 9.92%.
Therefore, traders constantly monitor the weather conditions and condition of crops of a rape in EU and Canada.
Sowing canola in Canada has been completed.Rain, who recently passed, had a favourable effect on the crops. Almost 64% of crops are in good or excellent condition, although a year ago the figure was 86%.
in the past week rapeseed on Euronext rose from 355 to 366 Euro/ton on Tuesday, but rapidly dropped to 360,25 Euro/ton or 401,17 $/t
the price of rapeseed under the pressure of falling prices for soybeans and decline in oil prices to 46 $/barrel. The price of soybeans began to decline after the publication of information on the improvement of oil crops in the USA, where in good or excellent condition are now 67% of crops against 66% last week and 73% in 2016.