Strategie Grains cuts EU's rapeseed and sunflower seed crop forecasts again

Strategie Grains has again reduced its monthly forecasts for this year’s rapeseed and sunflower seed harvests in the European Union as unfavourable weather continued to affect the bloc’s main oilseed crops, the consultancy said. The firm cut its outlook for the EU’s 2024 rapeseed harvest for the third time in a row. It pegged output at 17.27 million metric tons, down from 17.80 million forecast a month ago and now nearly 14% below last year’s level. Expected production was revised down mainly in Germany, the Czech Republic, Poland, Hungary and Romania, reflecting both low yields and lower acreage, it said in a summary of an EU oilseed crop report. Rapeseed harvesting is in its latter stages in Europe. Analysts have been anticipating a smaller EU rapeseed crop after months of heavy rain, including in France where the farm ministry estimates production could fall by almost 8%. For sunflower seed, harvested in late summer and autumn, Strategie Grains lowered its EU forecast for the ...