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Oilseed rape prices remain range bound

Date Added: 16/05/2014

 

Old crop oilseed rape prices fell this week to sub £300/tonne trading at around £295.00 ex farm subject to location. Harvest is currently thinly traded but valued at £265 to £270 ex farm. Prices appear to be low when compared to recent years and also against soya and wheat values. However wheat prices are beginning to fall so maybe rapeseed becomes fairer value at these values.

Soya plantings are starting to make good progress in the US, but the dynamic between corn and soya has still to fully play out. If corn plantings surge ahead as expected, this may mean less soya acres than anticipated occur. The weather pattern in the US will then be a major factor to price direction depending on how crops develop.

Regards

Owen

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