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Traders View 21st April 2011

Date Added: 21/04/2011

Market makes new gains

 

New crop oilseed rape prices have made new gains over the last week. The bullish and bearish factors can be summarized as follows;

 

Bullish

 

  1. Crude oil prices remain high promoting biodiesel production
  2. Weather patterns remain uncertain
  3. Continued demand for mandated biodiesel within the EU
  4. Late canola plantings in Canada likely to reduce yield potential
  5. Worries over development of Eastern European rapeseed crop

Bearish

 

  1. High oil prices have a recessionary effect on the world economy
  2. Reduced demand for US soya from China as they switch to South American supplies
  3. Large Brazillian and Argentian soya crops
  4. A record UK rapeseed crop likely next year

 

 

 

 

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