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Dome of heat

Date Added: 15/07/2011

 

Oilseed rape prices are remaining steady despite reports of better than expected yields in France and the UK. Average yields in France are now expected to be over 3.2 tonnes/hectare, whilst first yields in Southern England are ranging from 2.5 to 5 tonnes per hectare.

 

However, yields in the Ukraine are much lower than expected, which combined with a delayed harvest due to earlier wet conditions is curtailing the amount of rapeseed which can be exported to the EU.

 

Markets are also reacting to the upside on a  potential “dome of heat” hitting the US corn and soya growing areas next week. Temperatures could be over 40 c which will could effect corn pollination and hence yield potential. Although soya is more susceptible to heat during August the corn story is lending support to this market aswell.

 

Owen

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