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Traders View

Date Added: 04/11/2011

Prices have remained volatile this week as the spectre of a Greek referendum on the euro initially caused prices to fall. Once the Greek referendum had been put to one side prices for soya and rapeseed recovered.

 

The general consensus seems to be the biggest driver of future prices will be the appetite of China for soyabeans. Sales of US soyabeans have been slow to China this harvest year as the Chinese have been an aggressive buyer of South American soya. If South American supplies become short we expect prices and sales of US beans to increase which should support the vegetable oil complex. If on the other hand the Chinese do not show new interest prices will no doubt decline.

 

Regards,

 

Owen

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