Stallites indicate lower rapeseed acreage in Europe

After slight losses on Thursday, rapeseed on Euronext/Matif headed north again on Friday. The leading May contract closed at a closing price of 427.50 euros/t, which was 6.00 euros/t higher than the forecast. The other contract dates traded also had positive signs. The declining prices for vegetable oils currently appear to have no influence on the rapeseed price development. However, friendly guidelines from the soy market gave the oilseed a tailwind. After days of losses, Canola was also able to close with green signs on Friday and is currently trading at 577.40 Can dollars in the leading March date, which corresponds to a converted rate of 397.14 euros/t. Rapeseed is supported by a new forecast from the Kleffmann Digital RS CropRadar. Based on satellite-based data, the company has identified a European rapeseed area of less than 6 million hectares. Slight declines in cultivation have been identified for Germany and Austria, while in France the area under rapeseed cultivation may have increased by 2 percent. There were significant declines in Denmark, Romania and also in Great Britain, where significantly less rapeseed was grown.

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