On June 29, the Canadian rapeseed futures market of the Intercontinental Exchange (ICE) closed down on Wednesday, with the benchmark period closing down by about 1.90%, because the latest acreage data released by Statistics Canada was negative, and the Chicago soybean and finished product markets fell .
According to the latest sown area report released by Statistics Canada, the canola planted area in Canada is expected to be 22.082 million acres in 2023, a year-on-year increase of 3%, higher than the market expectation of 21.8 million acres.
Chicago soybean oil and European rapeseed prices fell sharply, which is also unfavorable to the market.