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Trader's View

Date Added: 18/06/2012

Greek Election Results Offer Small Comfort

Despite a favourable Greek Election result, oilseed rape prices have struggled to improve as despite higher MATIF prices on Monday a stronger sterling has mitigated any gains.

Old crop oilseed rape is now virtually finished at £355.00 ex farm, whilst new crop is only now currently valued at £345.00 ex farm. Focus is now turning to weather concerns in the US, where corn and soya crops will soon be in need of rain so crops can meet their potential and get close to the USDA yield predictions.

Our view is that there is likely to be a weather scare that should raise prices and provide a selling opportunity.

 

Regards,

 

Owen Cligg

 

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