Rape continues to rise due to uncertainty with the new harvest
Quotes rape on Euronext yesterday once again rose 2 €/t and reached 361,75 €/t or 422,7$/t on the background of delayed collection in France and lower yields in Germany. European traders while not paying attention to low prices for soybeans and oil in Chicago and another decline in the price of palm oil in Malaysia from 575 to 571,7 $/t due to the reduction in exports in June by 10%.
In Ukraine, increasing the rate of harvest of rape and as of July 4 from the area of 251 thousand hectares (25% of the forecast), harvested 505 thousand tons with a yield of 2.02 t/ha.
According to the survey conducted by experts of IA "APK-inform", many agrarians of the southern regions of Ukraine see a decrease in the yield of winter rape this year compared with last year's figures.
So, economy of the Odessa, Kherson and Zaporizhia regions report that the yield of rapeseed below 5-15% and an average of 16-22 kg/ha. In the Western regions yield is traditionally higher in addition, these regions have received more rain in the spring. Forecasted for next week powerful precipitation may delay the harvest.
the Purchase price for rapeseed continues to grow, and today traders offer 392-394 $/t or 12200-12300 UAH/t with delivery to the port, and processors of the plant are willing to pay 11700-11800 UAH/t
Favorable for planting canola in the Canadian prairies conditions with warm weather and good rainfall continue to put pressure on the price of canola, which is traded in Chicago on the level 504,7 CAD/t or 384 $/t
traders expect the 6th of July, when China and the United States should enact mutual import duties on goods worth 50 billion $. China said yesterday that he will not introduce duties first, and wait until the United States will do "the first shot in a trade war".
China's State Council said that doing this with all the possible consideration by the leaders of the country the timing of introduction of any opposing rates, to give US the option to cancel or to postpone the decision to impose duties on Chinese goods, given the difference in time zones between the US and China.
Delay or cancel the China duties on U.S. soybeans can provide significant support to soybean prices, which may have fallen by 20%.