World: Rapeseed prices continue to fall under pressure from increased crop forecasts in Canada and the EU

Stratégie Grains experts have increased their forecast for EU rapeseed production in 2023/24 MY in 2023/24 by 0.2 to 19.7 million tons (19.5 million tons in 2022/23), thanks to better-than-expected yields in Romania , France and Germany. In October, prices for rapeseed and canola fell by 6% and 4.2%, respectively, as crop forecasts were raised in the EU and Canada, where harvest conditions were favorable. Paris MATIF February canola futures fell 6% in October but are up 1.2% since Monday to €432.75/t or $458/t, while Winnipeg January canola futures are down 4.0% in October. 2% to 688 CAD/t or 497 $/t, having lost 19.2% since September 1. November soybean futures in Chicago fell 8.3% to $467/t since September 1, pressured by active soybean planting in Brazil and harvesting in the United States. In Ukraine, rapeseed prices remain at 330-345 $/t with delivery to the ports of the Danube and the Black Sea and 380-390-410 €/t with delivery to the Baltic ports and German factories. But ...