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Rapeseed oil prices continue to rise

Date Added: 07/03/2014

Oilseed rape prices are up again this week. Spot prices are valued above £320.00 ex farm, whilst harvest is now £285 to £290 ex farm.

Chicago soya markets remain firm as exports continue out of the US. Increases in soy oil and palm oil are supporting prices as rumours of a developing El Nino are currently circulating. This has the ability to reduce palm oil yields in Indonesia and Malaysia, so the market has reacted to the upside.

The uncertainty regarding Ukraine is also adding to the risk premium as sunflower oil exports could be affected as well as potential new crop oilseed rape exports to the EU. Adding to the price appreciation is some more fund activity as share prices are declining and money seems to be moving into commodities.

Regards,

Owen

 

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