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United Oilseeds Trader's View - by Owen Cligg

Date Added: 27/07/2012

Yo-yo Markets

Rapeseed markets have been volatile this week, ranging from £375 ex farm to £360 ex farm for harvest movement. Prices have been following Chicago soya beans albeit at a distance, as the protein part of the complex is more in demand than the oil.

Rapeseed yields in the UK are currently disappointing when compared to last year. Our current estimation is about 12% down which would put the national average at 3.4 tonnes/hectare. This will reduce our potential exportable surplus, most of which is probably already committed and hopefully keep supply tight after harvest.

The outlook should be for prices to be supported in the near term as hot weather returns to the US which puts in question soyabean production. Rain will be needed soon to get near anticipated potential.


Owen

 

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