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Traders View 28th April 2011

Date Added: 28/04/2011

Weather market continues

 

Oilseed rape prices are currently showing a great deal of volatility with daily movements of up to £6.00/tonne in either direction.

 

Agricultural commodity markets in general are tending to be on edge as weather markets continue to impact. The current weather features seem to be the main drivers at present;

 

1.      Wet weather in soya and corn regions of US are continuing to delay plantings, however it does not necessarily mean yet that yields will be reduced.

2.      Dry and hot weather in the Southern US wheat plains are reducing yield potential

3.      Dry weather in Northern Europe effecting oilseed rape and wheat prospects.

4.      Snow and wet conditions in Canada delaying canola plantings by 3 weeks, but if the weather conditions allow plantings likely to be significantly up.

5.      Moisture conditions in Australia should allow for increased oilseed rape plantings in South and Eastern Australia.

 

It is United Oilseeds opinion that the market has a relatively high amount of risk premium in the price which does represent a good selling opportunity for those with plenty of seed to sell.

 

 

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