Strategy of grains expected frost damage at the EU rapeseed stocks

The agricultural consulting firm has reduced the forecast of the canola crop 2017 strategy of grains in the European Union due to frost damage after the cold wave in the eastern regions of the community in January to 500,000 tons won 21.56 million tons. The harvest is estimated to 7.5% higher, as frost damage will be the harvest 2016. mainly in Hungary and Bulgaria, as well as expected in Poland, Slovakia and the Czech Republic. A clear picture of the damage but reveals itself in the spring.
Compared with the previous forecast in early December the rape seed production in Poland and Bulgaria has been reduced to 130,000 tons. 120,000 tons less rapeseed are expected in Hungary and each 40,000 less in the Czech Republic and Slovakia. Have been reduced also the forecasts for Germany and the Baltic States during the Outlook for France, Denmark, and Sweden has been increased slightly.
Strategy of grains estimates global rapeseed production now around 2.6 million tons higher at 69 million tonnes. The supply situation is considered closely but extreme, because the strong demand offset the increase in production.
The tight supply has led to a rally in oilseed rape prices, so that the spot market prices reached the highest level since 2014.

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