Rapeseed: Canada's harvest is progressing

Yesterday the signs for rapeseed contracts on Euronext/Matif were green. The November date closed with high sales, 8.75 euros/t higher at 449 euros/t. The lawsuit announced by Ukraine against Hungary and Poland is seen as more of a symbolic act, but the question remains in the market as to whether Hungary and Poland can stay afloat with their stance and their own import bans. EU imports overall are currently declining compared to the previous year, as already reported yesterday. In Canada, farmers remain busy with the harvest. Half of the inventory is expected to be brought in shortly, putting further pressure on canola prices in Winnipeg. Due to positive information from Europe and the soy market, Canola was able to gain slightly on the ICE yesterday, but is still trading with very significant losses for the week.

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