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Oilseed rape markets firmer again

Date Added: 21/02/2014

Oilseed rape prices have continued to firm with £300.00 ex farm now available in most parts of England. Harvest prices are also higher at £275 to £280 ex farm but this is failing to stimulate very much selling interest. Rapemeal prices have risen strongly in the spot position as crushers have limited supply. Rape oil prices are also supported by palm oil prices reaching an 18 month high.  Also there are higher soy oil prices as Brazilian soya production is likely to be lower than previously thought due to drought in the South.

The logistical issues surrounding canola movement out of Canada and also potential waiting time developing on soya shipped from Brazil are still pertinent. However once movement speeds up this could bring pressure to bear on prices.

Regards,

Owen

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