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Wednesday, June 30th | 9:43 pm

by archyw

RAW MATERIAL NEWS

14:48 | 30.06.2021

USDA acreage and inventory data – rapeseed prices in Canada hit a new record

The U.S. Department of Agriculture (USDA) data due today could have a longer-term impact on the market. There is particular interest in the data on acreage for maize and soybeans. The stocks as of June 1st are also published today. For wheat, the latter also represent the final stocks of the 2020/21 season. Compared to the previous year, declines of 17% for corn and wheat and 43% for soybeans are expected.
Rapeseed / spring wheat
Canola (rapeseed) prices have hit a new record in Canada. In the wake of this, the EU rapeseed price rises again to EUR 524 per ton. This is due to the persistent heat and drought in the prairies. This also damages the summer wheat. This also applies to the northern US plains. The USDA now only classifies 20% of spring wheat as good or very good.

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