EU rapeseed imports poised to accelerate, after slow start to season

Rapeseed prices have eased, constrained to the upside by a downtrend 
line dating back to June highs, but with support at $460/t holding 
nonetheless, for both Paris November-25 and February-26 contracts. 
Certainly, Europe’s rapeseed demand signs look solid, with slow 
imports underpinning markets. 
Industry group Fediol not only pegged September’s rapeseed demand by 
EU-plus-UK crushers at 1.58Mt, up 6.1% year on year, but upgraded the 
July and August figures by a combined 100Kt. The Q3 rapeseed crush, at 
4.83Mt, exceeded comfortably the trailing five-year average of 4.64Mt. 
This as EU rapeseed imports, at less than 1.2Mt so far this season, remain 
unusually slow. Market snugness shows in a return of Paris November-25 
and February-26 futures contracts close to parity, reducing the incentive for 
Europe’s own farmers to hold-off sales from their strong harvest-25.