May 15, 2008

Canada rapeseed futures to remain strong in 2008-09

Canada's rapeseed futures posted strong outlook for 2008-09 due to an estimated 22-percent drop in supply, resulting from smaller acreage.

Delayed plantings on weather concerns also boosted rapeseed prices.

Rapeseed supply in Canada as of March 31 was at 3.699 million tonnes, down from 4.755 million tonnes last year.

However, some analysts say that acres will be higher than recent estimates as improved moisture has encouraged more seeding.