World: Weekly overview of the oilseed market on 18 June

The weather Warmer conditions combined with rainfall in the Canadian Prairies over the past week have been favorable to canola development, while canola areas in Australia are expected to remain dry in the coming days. To a large extent, the weather next week will allow the canola harvest in Western Europe to progress. Although temperatures in the Black Sea region continue to maintain high values, the forecast for the next seven days shows the appearance of precipitation for Bulgaria and Romania, which are so necessary for sunflowers and corn. Highlights from global markets In its monthly report, the USDA raised canola production, whose global crop will grow by 0.8 to 87.9 Mt, with the largest contribution (+0.4 Mt) from Canada, where they already expect the best crop for the last 5 years. By 0.15 Mt to 18.9 Mt, however, the rape crop in the EU has also increased, and the rest comes from the "others" column, where Australia is still located. The increase dealt a heavy blow ...