Less rapeseed cultivation in Germany

Rapeseed also rose yesterday and closed with an increase of 3 euros in the February contract at 446 euros/t. The decisive factor was not only very positive specifications in the soy complex, but above all the Union's forecast for the promotion of oil and protein plants for the German rapeseed area. Accordingly, farmers in this country have significantly restricted the area sown for rapeseed for the coming harvest. However, it was expected that the cultivated area would hardly change compared to this year's harvest. According to the estimate, winter rapeseed is likely to be grown on 1.09-1.13 million hectares. This corresponds to a decrease of 4 to 7 percent compared to the previous year's cultivated area. The rapeseed stocks are assessed as being in good condition. The heavy rainfall in October and November helped the fresh stocks. Canola in Winnipeg also rose yesterday. The leading May date rose by Can$9.80 to Can$723.40/t (€486.12/t). Here, the bullish targets for soybeans and especially soybean meal had a particular impact on the price development.

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