Rapeseed and canola with losses

Rapeseed ended yesterday's trading session with significant losses. Prices on the cash markets were also under pressure. The front month of May lost 7 euros to a closing price of 453.00 euros/t. The main factors weighing on prices were crude oil and vegetable oils. Compared to its latest harvest forecast, the German Raiffeisen Association has revised its production expectations for rapeseed slightly upwards and expects a harvest volume of 3.94 million tons in Germany. In the previous year, 4.23 million tons were harvested. Lower yields per hectare and a declining acreage are the reasons for the lower production expectations compared to the previous year. In Canada, the price of canola also fell significantly. The May contract fell to its lowest level in four weeks and was quoted at 612.50 can-dollars/t (417.11 euros/t) yesterday evening.