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The EU faces tight rapeseed supply through the second half of its marketing year after drought cut its crop to a 13-year low. Imports rose 77% year on year to 2.67 million mt, with Ukraine supplying nearly 80%, but Ukrainian exportable surplus is nearly exhausted.
With Ukrainian supply running out and the EU short roughly 3.9 million mt until June 2020, European buyers will turn to Australia and Canada, supporting rapeseed and related oilseed meal prices.
commodityconversations.comAgriCensusNov 13, 2019Not enough comparable past events yet for a historical read.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
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.
