Strategie Grains raises EU rapeseed crop estimate again

Strategie Grains raised its estimate of this year’s rapeseed harvest in the European Union for a second month in a row, citing better yields than previously expected in Romania, France and, to a lesser extent, Germany. In an oilseed report, the consultancy increased its rapeseed harvest estimate to 19.7 million metric tons from 19.5 million a month ago, now 1.5% above last year’s level. The supply outlook for rapeseed in the 2023/24 season appeared balanced, with the increased harvest volume expected to be offset by reduced imports and extra demand encouraged by attractive crushing margins, Strategie Grains said. A temporary ban on direct sales of Ukrainian grain in five eastern EU countries until Sept. 15, following tensions over large inflows last season, cut sharply EU rapeseed imports at the start of 2023/24. Since then, Poland and Hungary have continued to ban imports of Ukrainian agricultural products, while Romania, Slovakia, and Bulgaria have announced a licensing system ...