Strategy Grains expects more rapeseed in Europe - Canadian crop also valued higher

Increase rapeseed at the beginning of the week. The front month of February increased by 3.50 euros to 444.75 euros/t. France's analysis house Strategie Grains has adjusted its estimate for the European rapeseed crop upwards and now expects a harvest of 19.76 million tons higher by 200,000 tons. The EU Commission had also expected a higher harvest last Thursday, but this forecast was slightly higher than that of Strate Grains at 19.868 million tonnes. For Germany, the EU Commission expects a rapeseed harvest of 4.23 million tons, which is slightly below the previous year's harvest of 4.29 million tons. In its quarterly report, the Canadian Statistics Authority increased the area yield for the prairie areas and now expects production of 18.33 million tonnes. In September, 17.37 million tons were still expected. However, the previous year's result of 18.69 million tons was still just below the previous year's result. Canola on the ICE Winnipeg fell slightly yesterday because of this and because of the bearish expectations for soy. Palm oil also continued to perform weaker at the beginning of the week and continued its downward trend.

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