Summer rains hit German rapeseed crop hard but market still waiting for EU’s Argentine decision

In Germany, persisting summer rains have damaged the rapeseed crop to the point where European production is seen falling to just 21.6 million metric tons. French production will help to offset yield losses but Germany’s crop will still negatively impact supplies. Supply tightness will provide support to rapeseed oil prices in the face of pressure from other vegetable oils such as soy oil and palm oil. European biodiesel prices are holding steady, however, as the market waits to see how and when the European Commission will lift anti-dumping duties on Argentine imports.