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Trader's View by Owen Cligg

Date Added: 22/06/2012

Soya prices trending upwards

This week has seen soya prices move up on the back of dry weather in the US. Rumours of growers of having to buy back futures contracts for corn and soya because of doubts over production are adding to some bullish enthusiasm. There was a set back on Thursday as crude oil prices continued their recent falls and Moodys downgraded of many of the world's banks resulting in heavy selling. However prices were back up on Friday as the fundamental shortfall of supply of soya again became a dominant factor.

Matif oilseed rape prices have followed soya up, the August position trading at today at 471.00 euros. This equates to £369.00/tonne FOB which translates to an ex farm price of about £355.00/tonne dependent on haulage. There will be a big export programme for oilseed rape this harvest, though if harvest is delayed there maybe logistical problems moving large amounts of oilseed rape to boats before wheat arrives. United Oilseeds has an extensive national network of stores in place to ensure movement is available to those who need it.

Regards, Owen


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