BMEL: Preliminary official rapeseed harvest report 2020 - Soy courses with strong buoyancy The Federal Ministry of Agriculture (BMEL ) has based on the cultivation surveys of the Stat. Federal Office and yield determinations on approx. 740 rapeseed fields calculated the German rapeseed harvest at 3.51 million t . The result is approx. 24.4 % better than in the previous year, but remains around approx. 21% behind a 6 -year average. The stat. The cultivation area determined by the Federal Office is 11.9% above the previous year in 2020, but 22.4 % below the 6-year average.The yield determinations were an average of 36.8 dt / ha, 1 1.1% higher than in 2019, but only 2.2% higher than the average of several years. There are major differences between the individual production areas Strong declines in harvests compared to the multi-year average are in Saxony-Anhalt (-35.8%), Lower Saxony (-31.5%), Brandenburg (-30.7%), North Rhine-Westphalia (-27.3%) and in Bavaria ( -25.3%). As a rule, the significantly reduced cultivation areas between -11.5% in Thuringia and -35% in Brandenburg contributed to this. This year's area yields are mostly positive with the exception of Thuringia (-3.3%), Saxony-Anhalt (-4.8%), Saxony (-3.9%), North Rhine-Westphalia (-4%) and Bavaria ( -2%).Considerably higher rapeseed imports will be necessary this year to meet demand . However, rapeseed prices are kept in check by the raw, palm and soybean oil prices . A higher euro exchange rate contributes to the price dampening with cheap imports. Towards the end of Aug 2020, soy prices in the USA show an above-average upward trend. The listings on the Chicago Stock Exchange have been since the beginning. Aug 2020 up more than 9% . The background to this is the end of the sales season in South American countries, high Chinese purchases in the USA, a noticeably lower dollar exchange rate, as well as storm damage and drought in important US soy-growing regions. The high price increases typical of the stock market are likely to be smoothed out a little by profit-taking, unless other price-driving factors arise. The palm oil prices are relatively stable at a level of just over € 550 / t.The harvests in Malaysia and Indonesia are approaching the seasonal high point in October 2020, so that, as a rule, no further price increases are to be expected. Crude oil prices are currently showing a sideways movement of around $ 43 / barrel of Brent crude . Due to the coronavirus, global demand from the economy remains very subdued. The reduced oil delivery rates already take this into account. The rapeseed prices on the Matif in Paris have already fallen again after a considerable increase to over € 385 / t.
