Prices for rapeseed in Ukraine are rising again
Weather Forecasts in Australia and Canada is the main influence factor on the prices of canola in Chicago. Drought in Australia has continued to reduce crop prospects for wheat and rapeseed, and in Canada expected high temperatures and little precipitation for the next two weeks. This information supported the prices of canola in Chicago, which last week fell from 530 to 507 canadian dollars, and for the past two days rose to 511CAD/tone.
Increased pace of harvesting canola in Europe and Ukraine, not yet pressures on prices of rapeseed.
Ukraine has threshed 31% of the area or 256тис/ha and received 587 thousand tons of rapeseed (yield 2.3 t/ha) .
On Euronext for two days the price of rape decreased from 371 to 368,25 Euro/ton (424,85$/t) with delivery in August.
Experts predict that trend will continue due to the strengthening of the Euro and, with the progress of the harvesting campaign in the EU and the first results of the harvest.
Decline in prices for Ukrainian rapeseed, which was observed at the end of last week, was replaced by the rise on Monday.
Main reason for the growth is demand from exporters, who require significant volumes of canola to meet its contractual obligations. According to the July 20-25, traders will have downloaded the first ships with the rapeseed of the new harvest.
Price of rapeseed delivered to the port has increased from 410 to 412-415 $/t or 12500-12700 UAH/ton.
Processors offer 12100-12200грн /t delivered to the plant.
Prices for rapeseed on the domestic elevators reach 11900-12200 UAH/t, depending on the region.