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Date Added: 23/03/2012

Market volatile following soya futures

 

This week has some big swings in oilseed rape prices as Chicago soya prices were down earlier in the week on fund liquidation only to recover on Thursday and Friday.

 

Fridays’ oilseed rape values have recovered to £370 to £375 ex for spot whilst harvest has recovered to £355.00 ex plus.

 

Crushers are finding old crop positions particularly difficult as rapeoil is difficult to sell and crush margins are poor. Because of this we think there will now be a reasonable carry of old crop stock into new crop positions which could pressure old crop prices nearer harvest. As regards new crop, potential worries over soya supplies should keep prices relatively buoyant.

 

Regards,

 

Owen

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