BMEL estimates the German rapeseed harvest at 4.2 million tons

With a settlement of EUR 474.25/t, the most traded November contract closed yesterday and thus gained EUR 1.00 per ton. The EU Commission recently corrected its estimate for the European rapeseed harvest and expects a harvest volume of 19.09 million tons. In July, 19.4 million tons were expected. Yesterday, the Federal Ministry of Agriculture presented its preliminary harvest balance for 2023 in the presence of the minister. According to the figures, the winter rapeseed harvest is satisfactory at 4.2 million tons, but it also means a decline of a good 3 percent compared to the previous year's harvest. Compared to the average of the last five years, this year's harvest is still 13 percent higher, which is mainly due to the higher acreage. New harvest figures are also expected from Canada today. The statistical office will publish a new production forecast. Conola ended trading on the ICE in Winnipeg yesterday with slight losses.

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