Prices for rapeseed are recovering after declining
a Sharp increase in forecast world production of oilseeds in the August USDA report and the depreciation of the Euro against the dollar to the level of 1,133 led to a decline in rapeseed on Euronext to $ 378/t or 428 $/t and a decrease in the price of canola last week in Ukraine to the level of 420 $/MT delivery port.
However, Thursday began the growth of the futures on soybeans in Chicago, two days on news of the resumption on August 21-22 talks between the US and China has risen more than 6%, and traded at 332 $/t
in addition, over the past two days, the Euro strengthened to the level 1,1426 $/Is.
Dry and hot weather in Canada in areas of growing canola increases the risk of decrease in yield for the canola price in Chicago rose 1.5% to CAD 512/t or 392 $/t
These factors led to higher prices for rapeseed in Paris to 383,75/t or 438,5 $/t, which corresponds to the price level before the report was released.
the price of rapeseed in Ukraine increased at the end of the week by 3-5 $/t and reached the level 423-425 $/t or 13550-13650 UAH/t with delivery to the port. The processors finish to buy raps and proceed to the purchase of sunflower, so the main direction of sales of canola will only export, and the approach of the supply of corn will decrease the number of ports and traders who will buy and export canola, resulting in the demand for it will decrease.