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Oilseed Rape Prices Under Pressure

Date Added: 10/01/2014

By Owen Cligg

The USDA report today failed to inspire oilseed prices as soyabean production came within expectations and corn production lower than expected. USDA soyabean stocks for the US are kept at pipeline levels, and Brazil and Argentina soya production for the coming harvest is estimated at 89 and 54 million tonnes respectively.

Oilseed rape prices have fallen back to about £280.00 ex farm for old crop and £260 ex farm for harvest. Pressure on rapeoil prices seems to be the main reason for the selloff.

Crushing levels of oilseed rape are better than expected as rapemeal demand has remained good. However increased crush has meant more rapeoil which is now struggling to find a market unless offered at lower prices. We do though expect biodiesel demand to continue which should help find a market for the rapeoil produced.

Regards,

Owen

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