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ADM analyst Jakob Dehoust forecasts EU rapeseed output at 17.9 million tonnes, up from 17.2 million, with favourable weather. EU canola imports are expected to fall to 6 million tonnes from 6.4 million.
He also sees a tighter rapeseed balance in 2021-22, with China buying large volumes of rapeseed oil from the EU.
Lower EU import needs and strong Chinese demand for rapeseed oil point to firm canola and rapeseed prices. Larger EU output partly offsets the tightness, which limits the upside.
ukragroconsult.comJun 11, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
