Prices for rapeseed in Ukraine remain high, supported by forecasts of lower soybean and sunflower yields

During the past week, stock prices for rapeseed, soybeans and soybean oil fell sharply, which led to a drop in purchase prices for rapeseed in Ukraine, although demand for it remains quite high.

August futures for rapeseed on the stock exchange in Paris remain under pressure from falling prices for oil and soybean oil and are trading at 467,25 €/t or 509,5 $/t, which corresponds to the level of last month, although during this period they rose and fell by 10%.

December futures for soybean oil in Chicago on July 8 fell 7.3% to 998 $/t, losing the speculative growth of the previous two weeks, but still 3% higher than last month.

September futures for Brent crude oil for the same period fell by 2.4% to $83.8 per barrel, which is almost the same as the previous month.

November canola futures on the Winnipeg Stock Exchange during this time fell by 4.7% to 621 CAD/t or $454/t (-0.6% for the month).

In Ukraine, the purchase price of rapeseed with delivery to the ports of the black sea for the week decreased by 300-500 UAH/t to 21700-22200 UAH/t or 470-475 $/t, but producers are beginning to restrain sales, hoping for higher prices on the forecasts of reduced yields of soybeans and sunflower due to the heat wave.

Demand price for the supply of rapeseed to the EU in July – August also fell by 10 €/t to 455-460 €/t, but the supply of road transport is very low due to competitive prices in the black sea ports.

Prices for rapeseed oil in the EU continue to fall as supply increases, and have already fallen below sunflower oil prices, which were supported by a possible reduction in harvest in Ukraine and Russia amid the heat wave.

Tags: EU, prices, soybean, sunseed, rapeseed, Ukraine