The signs for rapeseed at the weekend were green. The front month of August rose by 6.25 euros/t to 482.00 euros/t, primarily following the lead of soybeans and grain. Canola also showed significant gains at the ICE in Winnipeg. As part of the WASDE, the USDA has estimated the global rapeseed forecast for the coming season at 88.34 million tons. This means that production expectations are only slightly weaker than in the current season. Europe is expected to produce 19 million tons. Canada is expected to harvest 19.6 million tons, around 800,000 tons more than the USDA currently expects. The production forecast for India has been revised downwards. On the local cash markets, prices have recently continued to track the price trend on the stock exchange. Prompt rapeseed meal has also recently been trending slightly firmer due to low availability.
Source
VR AGRAR
