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  • Decreased demand for rapeseed by Ukrainian exporters was the result of missile attacks
    Опубликовано: 2023-08-01 16:06:12

    The decline in demand for rapeseed by Ukrainian exporters was the result of missile attacks on the infrastructure of the country's Black Sea and Danube ports. This negative factor led to the fact that some ships were forced to leave the Danube ports due to the risk of new attacks. GrainTrade notes that as a result, on Monday, the purchase prices for rapeseed for delivery to the Danube ports initially decreased by 15-40 dollars per ton, but then recovered to 365-370 dollars per ton, or 15000-15500 UAH per ton.

    Delays in rapeseed harvesting caused by rains did not allow to fully restore export activity, but the crop yield remains high. Farmers are actively selling rapeseed with quick payment to replenish working capital, while wheat and barley sales are postponed due to lower prices for these crops compared to the previous year.

    November futures for rapeseed on the Paris stock exchange decreased by 1% to 475.5 euros per ton or $500 per ton due to increased supply from farmers in the European Union and Ukraine.

    At the same time, on the Winnipeg Stock Exchange, November canola futures remained at the same level of 830 Canadian dollars per ton or $625 per ton due to improved weather conditions in the Canadian prairies.

    Experts predict that soon the increase in supply in the canola market will increase pressure on prices, especially given the improvement in weather conditions in the United States, where lower temperatures and precipitation will reduce the speculative impact on soybean prices.

    agrinews.com.ua

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