Rapeseed output in the EU, the world’s largest producer of the oilseed used in cooking and biofuels, may increase to a four-year high after German farmers planted more crops.

A disappointing report on consumer confidence and a more sober assessment of the US economy pulled shares down from 13-month highs on the New York Stock Exchange today.

Signs of a weaker US housing market and a gloomier outlook on the economy gave investors more reasons to dump stocks today.

Oil prices fell back today as weather forecasters said Hurricane Gustav was not strengthening during its advance on the US coast.