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Rapeseed values hold on lack of farm sellers

Date Added: 05/12/2014

By Owen Cligg, Trading Manager, United Oilseeds

Rapeseed markets remain quiet in Europe as farmers continue to be reserved sellers at what they perceive to be insufficient prices. Even if rapeseed volumes improved from the farm, it would be doubtful whether logistics could cope with the extra tonnage as transport is taken up moving increased wheat volumes this year.

Soyabean prices have bounced off recent lows as $10 per bushel was broken earlier in the week in the January position. Weather conditions in Brazil and Argentina have improved, but the lateness of planting means supplies will probably be delayed by about a month in the spring.

The latest Statscan report has increased Canadian canola supplies to 15.5 million tonnes compared to 13.9 million tonnes last month. However, brisk exports indicate that stocks should be still drawn down to normal levels before next harvest.

The Australian rapeseed harvest has meanwhile been estimated at 3.3 million tonnes which represents a fall on last year. European crushers though remain confident that 500,000 to 600,000 tonnes will arrive in Europe, limiting the upside potential for price rises.

Regards,

Owen

 

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