The Strategie Grains agency once again lowered forecasts for rapeseed and sunflower crops in the EU, which supported the quote

As a result of unfavorable weather in Eastern Europe, the Strategie Grains agency reduced the forecast for the sunflower harvest in the EU in 2024 by 0.4 million tons to 8.9 million tons, which will be 10% less than the 9.8 million tons harvested in 2023. Harvest data confirm poor sunflower yields, which in Romania and Bulgaria will be the lowest in the last 15 years, and in Hungary will be 5% below the 5-year average. In France, slow plant development will delay harvest and make it vulnerable to bad weather. For the fifth month in a row, the agency has reduced the forecast for the rapeseed harvest in the EU, now by 0.2 million tons to 16.7 million tons, which will be 16.5% lower than in 2023. The production forecast has been reduced the most for Germany. Falling yields and stronger demand are exacerbating canola shortages in the EU, despite forecasts of a sharp increase in supplies from Canada thanks to high processing margins. The correction of forecasts will support the prices ...