Higher canola processing expected in Canada

Rapeseed remained true to its trend in the middle of the week and closed yesterday's trading day with losses. For the February date it fell by 0.75 euros to 430 euros/t. On the cash markets, with low to almost non-existent sales, prices are also weaker at the wholesale level. On the other hand, rapeseed meal prices have mostly increased over the course of the week so far. Canola in Winnipeg also gave way. The Ministry of Agriculture in Canada expects that the supply of rapeseed will be around 12 percent behind the average supply of the last five years. Canada itself expects a harvest of 17.4 million tonnes. The USDA had predicted a significantly higher harvest in the last WASDE report. Consumption in Canada is also seen as lower. The processing volume is estimated to be higher, with exports estimated at 7.7 million tons.

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