Rapeseed: Waiting for new production forecast for Canada

Following the very significant losses on Tuesday, rapeseed went slightly north again yesterday. The front month of November rose by 0.75 euros to 431.25 euros per ton. The follow-up contracts, however, were able to end a little firmer on yesterday's trading day. The market was also supported by more positive developments in the soy market as well as in soy oil and palm oil. Trading activity remains calm on the cash markets. Quotations at the wholesale level also fell. Rapeseed meal has also been under pressure recently and has given way again in most regions. Canola in Winnipeg also increased, but is still below the next target of Can$760 per tonne. Market participants are expecting an updated harvest estimate from the Canadian statistics agency CanStat for today. This had predicted a harvest of 17.6 million tonnes in August. The USDA also forecast this value in its WASDE on Tuesday, but still expected 18.7 million tonnes in August.

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