Weather in Canada prevents yields of rapeseed and beans

Concern continues in regards to weather in Canada, preventing the rapeseed yielding and other beans to develop steadily. This is due to the strong heat wave and the intense droughts all over the producing regions. Oil World has again reduced the production estimate to 18.6 MMTs, vs. prior 20.2 MTs a month ago. Canola oil is expected to soar even further. As for the SFO(sunflower) market, it reacted accordingly to the increases of the rest of the vegetable oils jousting, corroborated by a drier climate in some areas of the Black Sea, mainly the Volga region in Russia. In Eastern Europe, the forecasts are good regarding USDA. The FOB Ukraine market seems to be once again above 1,200 US $ / MT for the old campaign.