Collapse of quotations for rapeseed on the stock exchange in Paris lowers the purchase prices in Ukraine

Published 2024년 7월 26일

Tridge summary

The article highlights the unexpected decline in August futures for rapeseed on the Paris stock exchange, despite ongoing harvests and weather delays in France and Germany. August futures dropped by 4.5% over three sessions, while November futures fell by 1.6%, reflecting high demand but increased supply. In Canada, November canola futures also saw a slight decrease despite recent gains and adverse weather forecasts. In Ukraine, rapeseed purchase prices fell, reducing farmer sales, although over 1 million tons have been contracted for export to the EU, where demand prices are stable. Canadian weather is expected to significantly impact rapeseed prices in the coming week.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Sharp drop in August futures for rapeseed on the stock exchange in Paris surprised traders, as the harvesting of rapeseed is not yet complete, and the rains in France and Germany delayed the harvest and lead to losses and reduced quality of the crop. Over the past three sessions, the August futures for rapeseed in Paris fell by 4.5% to 472.5 €/t or 513 $/t (+2.1% per month), and November – only 1.6% to 493.5 €/t or 536 $/t (+5.3% per month). This indicates a high level of demand, and the drop in August futures is due to an increase in supplies as the harvest progresses. November futures for canola on the Winnipeg stock exchange after rising last week by 9.5% for the last three sessions fell 0.6% to 671 CAD/t or 486 $/t (+8.9% for the month), despite the heat in the prairies. According to forecasts, next week in the country will be dominated by dry and hot weather, unfavorable for canola, which is in the phase of formation of the crop. Purchase price of rapeseed in Ukraine for two ...

Source: UkrAgroConsult