The sharp drop in prices for rapeseed, soybean and soybean oil last week has also lowered the purchase price of rapeseed in Ukraine, but the demand for rapeseed remains very high.
Rape futures on the Paris Stock Exchange continued to come under pressure in August due to falling oil and soybean oil prices, and although prices rose during the month, they remained at the same level as last month at €467.25/t or 509 .5 USD/t, which is the same as last month, but during this period there was an increase and decrease of 10%.
On July 8, Chicago's December soybean oil futures fell 7.3% to $998 per ton, losing the speculative gains of the previous two weeks, but still 3% higher than last month.
During the same period, September Brent oil futures fell 2.4% to $83.8 per barrel, almost unchanged from the previous month.
During the same period, November canola futures on the Winnipeg Stock Exchange fell 4.7% to 621 Canadian dollars per ton and $454 per ton (-0.6% for the month).
In Ukraine, the purchase price of rapeseed supplied to the Black Sea ports has fallen by UAH 300-500/t to UAH 21,700-22,200/t or USD 470-475/t, however, expecting a decrease in the harvest of rapeseed and sunflower due to unusually hot weather, manufacturers begin to hold back sales in anticipation of price increases.
The demand price for rapeseed shipped to the EU also decreased by EUR 10 per tonne between July and August to EUR 455-460 per tonne, but offers for land transport are very low due to price competition in the Black Sea ports.
EU canola oil prices continue to fall as supply increases and are already below sunflower oil prices. Prices for sunflower oil were supported by the possibility of reduced harvests in Ukraine and Russia during the anomalous heat.
Source: Agravery.com
