Prices for rape are falling, despite the possible reduction of the crop
the European Association Coceral has published the first forecasts of production by EU countries in 2017/18 MG major crops.
the Production of rapeseed will increase from 20.53 million tons in the current season to 20.95 million tons, while acreage will be reduced from 6.52 million hectares to 6.43 million hectares. However, the average yield will increase to 3.26 t/ha against the current of 3.15 t/ha.
the Increase in acreage under rapeseed in Poland, Romania and Hungary will be offset by reductions in the major European producing countries - Germany, France, great Britain.
the European Commission predicts an increase in acreage under rapeseed from 6.49 million hectares in the current season to 6.62 million hectares in the season 2017/18 MG, and improving the yield from 3.1 t/ha to 3.3 t/ha, that the gross harvest will increase from 20 million tons to 22.1 million tons.
On Euronext prices for fall canola after soybean quotations have reached $ 398,25 Euro/ton for may deliveries and 366 € /t for August.
In Chicago the prices for canola have crossed the psychological mark of 500 canadian dollars per tonne and currently represent the canadian 495,9 dollars/ton or 371 $/ton.
In Ukraine, prices for new crop rapeseed fell to 390 $/ton for August deliveries.