Japan Buys 50,000 Tonnes of Canadian Rapeseed

Japanese crushers have so far bought 50,000 tonnes of Canadian rapeseed for shipment in late July/August and total purchases for the period are likely to be around 130,000 tonnes, trade sources said.

Crushers reduced their Canadian purchases for late June and July to 111,000 from 120,000 tonnes due to seasonal maintenance work at oil mills.

But estimated crushers’ buying for July/August was slightly above monthly average and is likely to keep to this level for a while due to a better crushing margin compared with that of soybeans, they said.