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Prices stronger this week

Date Added: 20/03/2015

By Owen Cligg, Trading Manager, United Oilseeds

Rapeseed prices have moved up this week as matif continues to gain ground and the £ has weakened from its earlier highs. Ex farm values are now in a range of £250 to £255 for all regions of the UK, though export activity is limited with most vessels ending up at ADM’s plant at Erith, Kent. (See pic).

 Soya prices have generally been weaker but recovered on Friday as a weaker dollar gave support. Brazilian farmers now seem to be more ready sellers as a weaker Real has made them more export competitive, whilst in Argentina, the issue of too much rain seems now to have been forgotten.

 Old crop oilseed rape prices appear to be supported in the short term in order to encourage farmer selling. The main view though is that there will still need to an increase in carryover stocks as this year’s large harvest will all struggle to find a market. Therefore, long term price trend will be dependent on new crop prospects and whether a weather event can add some element of risk to allow prices to move higher.

 

Regards,

 

Owen

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