Increased EU rapeseed harvest forecast increases pressure on global prices

게시됨 2023년 10월 4일

Tridge 요약

Strategie Grains has increased its forecast for rapeseed production in the EU for the 2023/24 season due to better-than-expected harvests in several countries including Romania, Germany, Spain, Italy, and the Baltic countries. However, the forecast for sunflower production in the EU has been reduced, as has the forecast for soybeans. The prices of rapeseed futures have fluctuated, with the euro-dollar exchange rate and the fall in prices for Canadian canola and US soybeans affecting the market. Ukrainian rapeseed exports are putting pressure on prices within the EU. Dry and warm weather in Ukraine is negatively impacting rapeseed crops.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Strategie Grains experts increased the forecast for rapeseed production in the EU in 2023/24 MY in 2023/24 by 0.6 million tons from 18.9 to 19.5 million tons (19.4 million tons in 2022/23 MY) thanks to the best, than expected for harvests in Romania, Germany, Spain, Italy and the Baltic countries. At the same time, the forecast for sunflower production in the EU in 2023/24 MY was reduced by 0.2 to 10.1 million tons (9.3 million tons last year), and soybeans - to 2.9 million tons (2.5 million t last year). On the Paris MATIF, November rapeseed futures were trading in the range of 440-445 €/t in September, and since Monday they have increased by 1% to 447.25 €/t or 468 $/t (-5.1% per month). The depreciation of the euro against the dollar to 1.046 €/$ supports prices in euros, but the general fall in prices for Canadian canola and US soybeans adds pressure on canola prices. Although they may soon be supported by unfavorable conditions for the development of rapeseed crops in ...

출처: Oilworld