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Traders view

Date Added: 17/02/2012

Soya beans leading the way

 

Soya markets have shown renewed strength this week as US markets have responded to increased Chinese buying plus the ever increasing spectre of a decreasing South American soya crop.

 

This has been supportive to oilseed rape prices especially in the new crop position, where £350.00 delivered store is now possible in some areas. The main factors holding back prices have been a stronger sterling at over 1.20 to the euro as the Greek debacle rumbles on, and also poor crush margins as oil mills are struggling to sell their products at better prices.

 

Crops in the UK look to becoming through the winter well and the cold weather has been beneficial curtailing disease and excess growth. As we are expecting an 8% increase plantings we should have another significant exportable surplus for harvest 2012. Logistics could prove difficult for many but with our large network of stores we are confident we will be move oilseed rape promptly and efficiently. Good demand to the German biodiesel industry will no doubt support prices in the medium term.

 

 

Regards,

 

Owen

 

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