The increase in yield forecast of oil to the EU pressure on prices for new crop of rapeseeds
Analysts Agency Strategie Grains has increased its March report, the forecast production of oilseeds with the EU in season 2017/18 MG.
the new balance rapeseed compared to the current season will grow by 6.5% to 21.58 million. The acreage under it will be reduced by 0.8% to 6.47 million ha, and the yield will increase by 7.4% to 3.34 t/ha.
Support the price of rapeseed has a correction in market prices of palm oil, which caused the increase in prices on the main vegetable oils, in particular soybean.
On Euronext prices for rapeseed at the may agreements increased to 420 euros/ton, but for the August deliveries fell to 385 EUR/ton.
the Price of Ukrainian rapeseed of the new harvest fell by $5/t up to 390-395 $/ton for August deliveries.
Production of sunflower in the EU in the 2017/18 season will grow by 4.4% to 8.63 million tons due to expanding acreage by 2.7% to 4.2 million hectares and increasing yields by 2% to 2.06 tons/ha.
Gross harvest of soybeans in the EU will increase by 6.8% to 2.51 million. The amount of acreage will grow by 9.5% to 0.92 million hectares, but yields will decrease by 2.1% to 2.74 t/ha.