Prices for canola and rapeseds continue to grow
in January, the price of canola on the Chicago stock exchange has increased from 498 to 516,8 canadian dollars per tonne. The main factors were the rising prices for soybeans and oil, and the exports of canadian canola, which led to the reduction of oilseed stocks.
Experts in the new Strategie Grains forecast lowered its estimates of rapeseed production in EU countries in the season 2017/18 MG 0.5 million to 21.56 million.
Reduction of the crop due to frosts that prevailed in January over the Eastern regions of the EU. The most affected crops in Hungary and Bulgaria, is somewhat better the condition of the plants in Poland, Slovakia and the Czech Republic.
On Euronext, the cost of may futures on rapeseed in January increased from 407 to 415 euros/tn, although for deliveries in August price is at a level of 385 EUR/ton.
In Ukraine, the price of canola for delivery in port remain at the level of 405 $/ton, DAP border of Ukraine-Poland – 415 $/t. The price for new crop rapeseeds with delivery in August 2017 offered at $ 400-405 / t,