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.
📊 Price Overview – as of Wednesday, June 4
🌍 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.
