Dryness, frost damage and pest infestation unsettle rapeseed in Germany and beyond. There are therefore hardly any offers for rapeseed from the new harvest. Experts predict that harvest forecasts across Europe will have to be reduced. In the 2020/21 season, the EU will again depend heavily on rapeseed imports from Ukraine, Australia and Canada.
In this situation, farmers in this country do not want to make delivery commitments that they can no longer meet later. Despite all of this, the futures market prices show only a small plus this week. The price level from mid-February is still far from being achieved.
One of the reasons for this is the great uncertainty on the world market. The demand for edible oils is declining worldwide. Given the turbulence on the crude oil market, however, it is surprising that the biodiesel manufacturers still have a good demand for vegetable oils as energy sources. The USDA report last week was bearish as global soybean production was cut but consumer forecasts were also lowered, which should lead to higher ending stocks at the end of the season.
A decline in demand is expected in the medium term for feed meal. After the hamster purchases in Germany three weeks ago, the demand of the feed manufacturers is now calm again. However, price pressure cannot prevail, since the oil mills hardly offer any rapeseed meal for the months of August / September. 
Source
Hansa Terminhandel GmbH
