Strategie Grains cuts EU rapeseed and sunseed crop forecasts again

Strategie Grains has again lowered its monthly forecasts for this year’s EU rapeseed and sunseed crops as unfavorable weather conditions continue to affect the bloc’s main oilseed crops, the consultancy said. The company lowered its forecast for the EU rapeseed crop in 2024 for the third consecutive time. It estimated production at 17.27 million tons, down from a forecast of 17.80 million tons a month ago and now nearly 14% below last year’s level. Expected production was revised downward mainly in Germany, the Czech Republic, Poland, Hungary and Romania, reflecting both low yields and reduced planted area, the EU oilseed crop report summary said. Rapeseed harvesting in Europe is in its final stages. Analysts forecast a decline in the EU rapeseed crop after several months of heavy rains, including in France, where the Ministry of Agriculture estimates that production could fall by almost 8%. As for sunflower seeds harvested in late summer and fall, Strategie Grains lowered its EU ...