Rapeseed Edges Up Slightly – EU Forecasts Limit Gains
After a week of sideways movement, Euronext rapeseed closed marginally higher on Wednesday. The August 2025 contract gained €0.25 to €478.50/t, though broader price momentum remains muted due to improving EU crop forecasts.
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📊 Price Overview – as of Wednesday, June 4
Exchange | Contract | Price | Change |
---|---|---|---|
Euronext | Aug ’25 | €478.50/t | ▲ €0.25 (+0.05%) |
ICE Canola | Jul ’25 | 695.00 CAD/t | ▼ 3.70 CAD (–0.53%) |
🌍 Weather and Crop Outlook
- 🌧 EU Outlook: Rain forecast from northern France to the Baltic should ease spring drought concerns.
- 🇩🇪 Germany: Moisture deficits persist in the north, with soil water at critical levels.
- 🇨🇦 Canada: Canola planting is progressing well in dry soils, but farmers remain concerned about the lack of rain.
💬 Market Commentary
📉 The rapeseed market traded narrowly as Chicago was closed for a public holiday.
🇪🇺 A temporary EU–US tariff truce did not immediately impact prices. The suspension of proposed 50% duties on EU oilseeds until July 9 removed a major uncertainty.
📈 Despite a slight uptick, favourable EU growing conditions and a stronger euro are weighing on momentum.
🇨🇦 On ICE, Canola futures slipped, pressured by competitiveness concerns versus Chicago soybeans.
📌 Strategy & Outlook
🔍 Watch EU weather closely – forecasted rain could cap further gains.
📉 Bearish bias may persist if crop conditions improve further in northern Europe.
📆 Monitor US weather + USDA progress report due Tuesday after the Memorial Day delay.