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Traders view

Date Added: 16/03/2012

Fund buying improving values

 

Chicago soya beans and Matif rapeseed have both shown good gains this week as the appetite of commodity funds is being fuelled by the bullish trend and underlying friendly fundamentals.

 

There are queues of both boats and lorries waiting to load soya beans in Brazil which should help shift demand to the US. As regards rapeseed, spot demand for UK export cargoes continue to be a feature of the market despite poor crush margins and the unprecedented pace of exports so far this year.

 

With weather uncertainties throughout Europe continuing we remain friendly to the market but need to be aware prices could easily setback if the funds decide to take profits.

 

Regards,

 

Owen

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