Another decline in rapeseed harvest forecasts in the EU
The latest monthly EC report announced on Thursday showed another decline in rapeseed production forecasts in the European Union (details below). The announced data supported the quotations of rapeseed contracts on the Paris Stock Exchange.
Rape is the leader among oilseeds
The price of rapeseed in the contract for delivery in August on the Paris Stock Exchange increased by 1.3 percent on Friday. and amounted to EUR 477.25/t (PLN 2,058/t) and were 8.0 percent. higher than last year. Over the last week, the prices increased by 3.3%.
American soybeans fell 0.2% on Friday. and cost USD 422.73/t. On a y/y basis, the price of soybeans decreased by 22.4%, while for the week it decreased by 0.9%. Canadian canola prices increased by 1.2%. and amounted to CAD 597.90/t, and over the last year they decreased by 19.9%. On a weekly basis, canola became cheaper by 1.4%.
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When to mow rapeseed? Certainly in days
The European Commission in its latest report of June 27 this year. again reduced the forecast for the rapeseed harvest in the EU in the 2024/25 season, this time to 18.8 million compared to 19.1 million tons a month ago. The harvest is expected to be lower by 0.9 million tonnes compared to the past season. According to the Commission, among the largest EU producers of rapeseed, the harvest will be lower in France – by 0.1 million and will amount to 4.1 million tonnes, in Germany it will decrease by 0.2 million tonnes (4.0 million tonnes) and in Poland it will decrease by 0.1 million tonnes (3.3 million tonnes).
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Purchase prices of basic agricultural products in neighboring German states
Matif rapeseed, August contract – the price increased by 1.27% on Friday. (EUR 477.25/t – PLN 2,058/t).
The quotations of August rapeseed futures contracts expressed in PLN are presented in the chart below:
In the continuation chart below of rapeseed contracts listed on Matif, the long-term downtrend dominates, the medium-term is up and the short-term is up.
CBOT soybean, July contract – the price fell by 0.15% on Friday. ($422.73/t- PLN 1,704/t).
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How much do nitrogen fertilizers cost? Slightly, but still more expensive
On the Chicago stock exchange, the soybean market is dominated by an upward trend – long-term, medium-term is upward, short-term is upward.
Canola WCE, July contract – price increased by 1.24%. (CAD 597.90/t – PLN 1,758/t).
In Winnipeg, canola is dominated by a long-term downward trend, a medium-term upward trend and a short-term upward trend.
