Stronger demand heats up the price of rapeseed
After world prices for oilseeds continues to grow purchasing price for rapeseed in Ukraine.
Soybean futures in Chicago are becoming more expensive because of increasing demand and the forecast of dry weather for the next decade. Weekly soybean exports reached 740 thousand tons, which is 50% higher than the corresponding period in 2017. Despite the decline in demand from China, the export of soybeans equivalent to last year's level.
canola Futures for the week rose by 3 $/t to 494 CAD/t or 378,8 $/t Dry and hot weather in the South-West and South of the Canadian prairies near future will adversely impact on the content of canola.
at the End of last week the price of rapeseed on Euronext declined slightly after a sharp rise the day before. Trading for the August futures ended and began bidding on more expensive contracts with delivery in November traded at 374,25 €/t, or 438 $/t
In Ukraine, purchasing prices for rape has increased in the port at 5-6 $/t to 415-419 $/t or 13000-13150 UAH/t Significantly increased demand from processors, who compete with exporters buying canola for 12800-13150 UAH/t with delivery to the plant.
As of July 30, with 95% of the area harvested 2.4 million tonnes of winter rapeseed with a yield of 2.59 t/ha, and 17% of the area – 21 thousand tons of spring rapeseed with a yield of 1.73 t/ha.