The increase in rapeseed prices in Ukraine has stopped

After missile attacks on the infrastructure of the Black Sea and Danube ports of Ukraine, part of the ships left the Danube ports due to the risks of new attacks, and the export demand for rapeseed in Ukraine decreased sharply.

On Monday, purchase prices for rapeseed delivered to Danube ports fell by $15-40/t, but then recovered to $365-370/t or UAH 15,000-15,500/t.

The rains somewhat delay the harvesting of rapeseed, but its yield remains high. Farmers are actively selling canola with quick payment to replenish working capital, while the sale of wheat and barley is postponed, given the significantly lower prices of these crops than last year.

On the night of July 27, the Russian Federation again attacked the ports of Odesa with drones and missiles, two of which could not be neutralized, which led to new damage and casualties.

On the Paris exchange, November rapeseed futures fell 1% this week to €475.5/t or $500/t under pressure from increased offers from EU and Ukrainian farmers.

On the Winnipeg exchange, November canola futures for the week remained at Friday’s level of 830 CAD/t or $625/t amid improving weather conditions in the Canadian prairies.

In the near term, increased canola supply will add pressure on quotes, especially as the weather improves in the US, where lower temperatures and precipitation will reduce the speculative impact on soybean prices.