Canola prices are gesture-- drought and frost in Canada's growing areas

Rapeseed in Canada suffers from drought and late frosts

 In Canada, the world's largest exporter of canola with a share of over 40%, market, drought and late frosts impair the growth development of canola, a typical gene-modified type of summer rape. Winter rape plays no role in Canada.

Especially the 3 provinces of Alberta, Saskatchewan and Manitobaare affected. While the weak rainfall are observed a month, late frosts occurred only in the last few weeks. 

Some farmers have made again a seeding after determining damage, that experience has shown that less high yields can be expected due to shorter vegetation period. The full extent of crop damage is currently not to appreciate.

The global rape harvesting is already significantly lower than in the previous year. Lower harvests in the largest wine-growing area in the EU-28 are the main reasons. The EU is RAPS importer with 2.5 to 3 million tonnes. A further reduction in the largest producing region in Canada should lead to a significantly sharper crunch of this specific oilseed.  

Vegetable oils are interchangeable to a considerable extent, so that high soy crops and a good average palm oil production certainly can compensate RAPS share 15%. However, rapeseed oil is missing for special purposes.

The rape prices the Winnipeger stock exchange have risen 2 weeks to just under 12%. The rape listing on the Paris stock exchange has moved to prompt, started up but after flying high over €375 per t again.  Canola prices along the Mittellandkanal did with this upward trend.  

How far up in the face of competitive pressure from soya and palm oil page the increase in canola prices keep is questionable. In any case, be canola prices during the competition period develop a firmer trend.

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