In Germany, UFOP reports that producer prices for rapeseed firmed slightly in June and sharply in July. The lowering of harvest outlooks made itself felt. In the north and east of Germany, the drought had severe effects on rapeseed crops. Expectations of sharp declines in yield seemed to be confirmed by the first figures for crops grown on lighter soils. However, the results are not representative until the main harvest is brought in. In view of potential drops in yield, rapeseed producers hardly sold their rapeseed, relying on rising prices over the coming weeks.
They also reported that June prices for biodiesel initially rose because many blenders stocked up on biodiesel. As the month ended, demand waned and wholesale prices for biodiesel declined. However, buying interest could soon surge again, because the competitive advantage of biodiesel grows as crude oil prices climb.