Rapeseed and canola prices continue to rise against the backdrop of rising oil prices and declining harvest forecasts

Speculative oil price growth of 9% over the week due to Israel's open war with Iran supports biodiesel, rapeseed, and canola prices, especially given the reduced harvest forecast in Australia and new ideas to limit rapeseed exports from Ukraine. Information about the US authorities' intentions to sharply increase the biodiesel production mandate in 2026 and 2027, but only for production from local oil, upset Canadian rapeseed oil exporters and led to a sharp increase in soybean oil prices in Chicago by 15.8% over the week to $1,211/t. Cool weather with rains continues in Canada, which promotes canola crop development, although precipitation is less than forecast. July canola futures rose 4.6% over the week to 743 CAD/t or $547/t (+3.5% per month), and November futures for the new harvest - by 6% to 736 CAD/t (+8.2% per month) against the backdrop of rising oil prices. It should be noted that August rapeseed futures on the Paris exchange practically did not change over the week and ...