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Traders View

Date Added: 19/08/2011

Soya Prices Holding Steady

Despite the continuing fallout from the financial and crude oil markets, prices of grains and oilseeds are showing good resilience and only fallen to a lesser degree.

Soyabean prices are proving to be the market leader after last week`s USDA report reduced yields and planted acres. There is also a realisation that soya prices look cheap in relation to corn and that prices will need to increase next year to avoid corn being planted at the expense of soya in both South America and the US.

Whilst the price outlook for oilseed rape is still friendly, it is worth noting that crush margins are poor and will be reliant on biodiesel demand improving the price for rapeoil.  German rapeseed prospects are still poor with yields still projected at 3 tonnes/ha and still 20% left to cut. Since most of the EU biodiesel industry is centred in Germany we expect the demand to appear there and support prices longer term.


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