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Traders View 2nd March 2012

Date Added: 02/03/2012

Chicago stays strong but currency not helping

 

Chicago soya beans are continuing to lead the way as concerns mount that the world will become increasingly reliant on a good North American soya harvest this year due to the ongoing problems in South America. Chicago bean prices are now steady above $13 a bushel, a five month high with some commentators predicting $14 as a possibility.

 

However oilseed rape prices in sterling terms are moving backwards due its appreciation against the  euro to 1.20.  Because of this values of oilseed rape for harvest are struggling to make £350.00 ex for harvest, but nevertheless long term fundamentals still look to be positive.

 

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