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Oilseed Prices Remain Firm

Date Added: 28/03/2014

By Owen Cligg

Oilseed rape prices remain at about £325.00 ex for old crop and £280 to £285 ex for new crop. Soya prices remain firm ahead of a USDA report on Monday. US soya stocks are expected to be reduced whilst 2014 soya plantings increased at the expense of corn.

Despite wheat prices showing relative strength in the new crop positions many commentators are still bearish for new crop oilseed crop prices. We take the view though the European farmer is unlikely to come to market though whilst rapeseed prices are less than double the price of wheat. Also whilst there is uncertainty revolving around palm oil production in Indonesia and Malaysia due to insufficient rainfall, vegetable oils are likely to increase in price.

 

Regards,

 

Owen

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