Rapeseed prices are treading water

Rapeseed stood still yesterday. Inconsistent cues from the soy complex on the one hand and falling prices for canola in Canada on the other were unable to provide a clear direction yesterday. In the most traded August contract, a daily loss of 1.50 euros and a closing price of 458 euros/t were on the scoreboard at the closing bell. The EU Commission has revised its previous rapeseed forecast for 2024/25 slightly downwards. In particular, a slightly lower cultivation area compared to the previous estimate is responsible for this. According to the Commission, the oilseed harvest for the coming season is likely to be 33.319 million tons, around 400,000 tons higher than in 2023/24. The harvest forecast for rapeseed is 19.41 million tons. This is 9.2% more than the average of the last five years, but slightly below the previous year's figure of 19.81 million tons. The harvest volume in Germany is estimated at 4.06 million tons (previous year: 4.24 million tons).

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