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Date Added: 12/04/2013

New crop concerns keep osr prices steady

The USDA report on Wednesday gave little direction to the market as the previous increase in the stocks had already set the bearish tone. However logistical problems are still evident in South America with soya boats destined for Europe now delayed. This is leading a deficit of protein available in Europe and rapemeal supplies are in great demand. Contrastingly rapeoil prices are struggling as biodiesel demand is suffering as crude oil prices fall and fuel consumption generally is reducing.

Old crop oilseed rape prices are now valued at £380 to £382 ex farm for April, whilst new crop is finding support at £350 to £355 ex farm.

New crop prices are receiving support from the recent cold weather effecting most of Northern Europe. The late spring has delayed development and also many UK winter oilseed rape crops are being redrilled. The size of the UK crop may now struggle to exceed 2 million tonnes, but the amount of spring oilseed rape may yet surprise us.

Regards,

Owen

 

 

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