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Barn Door About to Close in South

Date Added: 25/07/2014

Oilseed rape harvest has been progressing at a pace in the south, albeit with disappointing yields, with many growers only reporting 3 tonnes per hectare. Yields are improving as we go further north and we may yet see an average UK production of 3.5 tonnes per hectare, which should equate to a crop size of around 2.4 million tonnes.

Exports are brisk as merchants are executing earlier sales, however, it is very evident that the grower does not want to come to market at current harvest values of circa £220/tonne. Once harvest finishes it will be a battle of wills between crushers and growers as to where the price needs to be to encourage off farm movement.

US soya prices, despite their recent falls, seem to be supported by good export demand to China. However, record yield indications for US corn and soya crops are continuing to paint a bearish picture.

Regards,

Owen

 

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