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Traders View

Date Added: 12/08/2011

Bullish USDA report versus Bearish Economic Woes.

Yesterday’s USDA report provided some bullish momentum to the market as both projected US corn and soya yields were reduced due to the recent hot weather.

However the turmoil in the financial markets had previously caused large losses in the matif oilseed rape market so combined with larger than expected yields prices at one stage traded below £330.00 ex farm for harvest movement.

Prices have since recovered to £350 plus ex farm.

Our expectations are for biodiesel demand to support the market especially as rapeseed yields in Germany remain disappointing.

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