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Rapeseed Prices Still Rangebound

Date Added: 20/02/2015

By Owen Cligg

Rapeseed prices still rangebound

UK oilseed rape prices are still valued at around £250 ex farm depending on distance from the crush. Any increase in matif values is being eroded by the strength of sterling which has recently touched 1.36 euros to the pound.

Soyabean prices are remaining firm despite the ongoing harvest in Brazil. March Chicago soyabeans are currently around $10 per bushel which may be supporting traders wishing to protect option positions which are due to expire soon. Also USDA have indicated they expect US soya acres to be planted in the spring to be lower than last year due to lower prices.

Overall the market is still focused on a tight protein supply, so it feels potentially heavy with vegetable oil supplies. This is not helped by the reluctance of biodiesel processors to buy forward as they see poor margins at present. However they may be forced to come to the market soon to meet mandated obligations bearing in mind the potentially lower EU rapeseed crop for the forthcoming harvest.

Regards,

Owen

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