Quotations for rapeseed and canola on world exchanges are gradually increasing
Canola Seed & Rapeseed
Published Jul 28, 2022
Tridge summary
The situation in the oilseed markets remains stable, as the supply of canola in the EU and Ukraine increases as the harvest progresses, reducing concerns about a possible reduction in canola production in Canada due to uneven rainfall.
Original content
Palm oil futures on the Malaysian exchange rose 3.8% to 3,787 ringgit/t, or $850/t, almost in line with the previous week's level. This stabilizes prices for vegetable oils, although drought in some regions of Romania and Ukraine has led to lower sunflower production forecasts. During the week, the number of U.S. soybeans in good or excellent condition fell from 61% to 59%, compared with 58% last year. Against this background, September soybean oil futures on the Chicago Stock Exchange rose 0.8% to $1,295/t yesterday, although they were down 3.4% for the week overall. Increased offers from Ukraine and the EU led to an increase in August rapeseed futures on the Paris MATIF by €15.5/t to €641.75/t or $651.6/t, although they were down 5.1% for the week . Expectations regarding the unblocking of ports reduce the supply of Ukrainian rapeseed for delivery to the EU, as the cost of road transportation continues to rise and already reaches $160-180/t. Purchase prices for rapeseed in ...
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