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Markets surge

Date Added: 20/05/2011

This week saw markets surge to the upside again as concerns continue regarding European crops.

This week saw markets surge to the upside again as concerns continue regarding European crops. We have recently seen big reductions in crop forecasts of French wheat and German oilseed rape. There was also an increase in the US soya market which has moved significantly higher due to continuing concerns on planting delays.

 At present US and European markets seem to be feeding off each other maintaining the bullish momentum.

 The general consensus is oilseed rape harvest could be 2 weeks early, how this will impact on yield remains to be seen. We are tending to hope UK rape yields will hold up with the biggest likely reductions in East Anglia and the South East. One or two commentators believe the reductions in yield in Germany maybe overstated but we will not know until the combines start.

 If yields are better than expected we may see some significant downward pressure especially if harvest is early as predicted as old crop stocks will hangover the market.

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