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Rapeseed prices holding up well

Date Added: 24/04/2015

By Owen Cligg, Trading Manager, United Oilseeds

Oilseed rape prices remain in a range of £250 to £260 ex farm for old crop supplies, and £240 to £245 ex farm for harvest movement. With feed wheat prices under pressure as its surplus looks increasingly difficult to shift, it may well be that growers decide rapeseed is approaching fair value. On the other hand, crushers are increasingly frustrated that poor margins mean they will be looking to decrease usage in an effort to improve product values.

News from Statscan yesterday confirmed expectations that Canadian canola plantings could be 4 to 5% down. However, some commentators have dismissed this as old news and that intentions may well have changed since the initial survey. Other news from IGC indicates world rapeseed stocks may fall by 6% as Canadian stocks decrease faster than EU stocks increase.  Support for soya prices has also been seen, as Brazilian truckers have started strike action disrupting soya movement to ports.

Regards,

Owen

(Photo: Charger Oilseed Rape growing in Wiltshire this week)

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