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OSR prices still under pressure despite weaker £

Date Added: 21/08/2015

By Owen Cligg, Trading Manager, United Oilseeds

 Rapeseed prices have continued to fall this week with harvest prices now valued at around £235 ex farm depending on area. Matif rapeseed values have fallen to below €360 representing a €20 plus fall from two weeks ago. Some of the recent loss is mitigated by the fall in sterling to £1=€1.386, but we could do with a bigger fall to support prices further.

 November soyabean prices have fallen below $9 dollars and the spot price represents a five-year low. The profarmer tour is reporting variable yields on corn and soyabeans but does not seem to be supporting the market. Instead, the market would appear to be more focused on Chinese problems which puts in doubt future import demand.

As regards the dynamics within Europe, customers are divided upon whether current product values of rapemeal and rapeoil are too expensive or whether they can maintain current prices due to the demand rationing required because of the smaller EU rapeseed crop. However, whilst farmer retention of rapeseed is likely to remain, we are hoping the downside on rapeseed prices is limited.

 

Regards,

 

Owen

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