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Traders View

Date Added: 07/10/2011

Market looking to find support

 

After the large price falls at the beginning of this week grain and oilseeds markets are now looking to find support. Macro economic factors now appear a little better with stock markets and oil crude oil prices recovering from their recent lows.

 

Oilseed rape prices are stabilising at around £350.00 ex farm for October 2011 and £320.00 ex for August 2012. Soya bean prices are also recovering as China continues to ship and buy both US and South American supplies. US farmers have now reduced their selling activity as they are busy harvesting and Argentinian farmers are becoming increasingly worried about dry weather conditions impacting on forthcoming plantings.

 

Owen

 

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