Dry weather could “significantly” reduce the number of acres planted to rapeseed in the European Union, the bloc’s crop monitoring unit MARS said today. This could present an opportunity for U.S. soy exports to the country. MARS details that dryness limited planting in northern France, Germany, Bulgaria, Hungary and Spain.
MARS also reports that sowing of winter cereals, including soft wheat and winter barley, were at risk due to dryness, but the sowing period is still open for those crops. Dry conditions have also resulted in slow emergence and development in major producing areas like Romania and Bulgaria. Crops need more rain soon to ensure good stands.
On the other hand, frequent and plentiful rains this fall has delayed winter grain planting in Ireland, the UK, Benelux countries and northern Germany, MARS details.
Also of note, customs data out today shows the EU’s soft wheat exports are sharply from year-ago levels nearly four months into the marketing year. As of Oct. 27, Europe has exported 8.55 MMT of the grain, a 50% gain from last year at this time.
The bloc’s imports of soy products are also running ahead of year-ago levels. The EU’s soybean imports for the 2019-20 are up 50,000 MT from year-ago at 4.25 MMT. The country’s imports of soymeal top year-ago by a more dramatic 1.1 MMT at 6.3 MMT.