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Matif prices collapse on May expiration.

Date Added: 01/05/2015

By Owen Cligg, Trading Manager, United Oilseeds

Oilseed rape prices are in a state of flux at present, as futures trading on Thursday 30th April caused a late selloff in the Matif market. It seems technical trading on the May August spread caused a stop loss on some of the new crop positions and was partly responsible for the carnage in all the positions. With most of Europe having its May Day holiday today, the Matif has been closed and is not due to open until Monday, when we are predicting a bounce in prices.

In the meantime prices are difficult to quote, but what little has traded today was at £5 to £6 down in prices. On the positive side, currency is much weaker at £1 = €1.35  which will help our export competiveness.  It is also widely acknowledged that rapeseed stocks are probably tighter than expected in Europe, which should maintain the old crop premium for sometime yet.

Regards,

Owen

(Photo: Incentive oilseed rape growing near Stirling Castle in Scotland today)

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