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Date Added: 26/08/2011

Soy oil prices keeping rapeseed steady

Recent strength in the soybean complex due to concerns over US yield potential is keeping the price of oilseed rape steady. However the price of soyoil has risen faster than that rapeoil so we are expecting rapeoil prices to appreciate in relation to soy oil as biodiesel demand kicks in. The danger is that higher prices in the US are starting to curtail demand and prices there begin to setback.

Looking forward to next harvest traders are worried that weather conditions are beginning to impact on planting potential for various crop. Dry weather in the US plains is likely to curtail hard red wheat plantings, whilst the spectre of la Nina in South America may effect soya plantings there. Wet harvest conditions in Germany and Northern Europe, including Scotland are also raising concerns over oilseed rape plantings which will struggle to meet the optimum planting window.


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