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Traders View 25th March 2011

Date Added: 25/03/2011

Oilseed rape stronger on corn demand

 Rapeseed prices have continued to the upside as US maize prices have shown recent strength on potential demand from China. If there is continued demand for extra corn acres this spring, this could be at the expense of some soya acres so supporting rapeseed prices.

 Next Thursday the USDA will issue its latest stocks and planting report. The market is expecting intended plantings of corn and soya to be up. However with the tight stock situation it is unclear whether these plantings will be high enough  to quell the fears of the market that stocks will continue to be drawn down to dangerously low levels.

 With the current uncertainty regarding plantings and how weather will effect yields we are still of the opinion there is still room for upside on new crop oilseed rape prices.

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