EU Commission estimates for rapeseed diverge from market data

According to the current estimates of the EU Commission, the EU rapeseed harvest is likely to be smaller than previously expected. The main reason for this is the smaller crop in France. According to UFOP, many market participants are also questioning expectations for the German harvest. The EU rapeseed harvest has already been completed in some areas. Yield reports confirm the Association’s forecast estimates, which had previously been lowered. Unfavorable weather conditions as well as the presence of pests were largely responsible for the drop in yields. Against this background, the EU Commission has repeatedly revised its crop forecast downward. According to the latest data, the EU is likely to harvest almost 18.4 million tons of rapeseed, which is 0.5 million tons less than expected in June and 1.3 million tons less than in 2023. The International Grains Council (IGC) is slightly more optimistic with the latest forecast of 18.5 million tons, as is the U.S. Department of ...