The farmer-owned oilseed specialists
< Back to list

Markets follow soya down

Date Added: 26/07/2013

The recent resilience of the soya market has now been eroded with the Chicago August position showing the biggest weekly decline in 4 years. The November new crop position has also fallen which continues to precipitate losses on the Winnipeg canola and Paris MATIF rapeseed price. Ex farm oilseed rape harvest prices are now £280 to £285 ex farm.

Most traders now seem resigned to benign weather conditions in the US which will be beneficial to the corn and soya crops. The UK grower seems reluctant to accept the lower rapeseed levels and it still remains to be seen whether he prices at harvest or opts to store long term.

A reversal in values now seems dependent on whether China views current values as cheap enough to warrant replenishing stocks of oilseeds and grains. Recent problems with the Chinese wheat harvest only go to highlight the fickle nature of the crop production cycle which could yet spur Chinese buying.

Regards,

Owen

 

< Back to list
© Copyright 2017 United Oilseeds  |  Developed by Boson Media