Rapeseed harvest shows heterogeneous area yields

After the clear jump in prices on Wednesday, rapeseed went south again yesterday, although the gains from the presentation were not consumed. The front month of August slipped back below the EUR 500 per ton mark, the most traded September fell EUR 3.50 and closed at EUR 504.75/t, still above this psychologically important mark. Further incoming harvest reports from southern Germany continue to show a heterogeneous harvest picture. Overall, however, most market observers are assuming an average harvest. The DLG reported an average oil content of 46.5 percent and a moisture content of 5% from the first results, with yields that are below the amounts of the previous year. On the Canadian prairies, farmers continue to face drought concerns. Canola gained slightly. Ex-harvest cash mark prices of around 500 euros are currently quoted, around four weeks ago it was 400 euros/t.

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