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Rapeseed prices steady in thin trade

Date Added: 02/10/2015

By Owen Cligg, Trading Manager, United Oilseeds

UK rapeseed prices  remain well bid this week at £250 to £255 ex farm in most areas. Matif prices are holding well whilst a weaker £ at £1 = €1.35 is also supporting prices. Growers are reluctant sellers at present, as the fine weather keeps most farmers in their fields.

US soya yields continue to be close to the USDA expectations, although US growers do not seem to be in a hurry to sell. The latest USDA soya stocks report came out at below expectations which briefly allowed soya prices to rally. However $9 a bushel on the November was not attainable and prices have subsequently settled at around $8.75. The latest Statscan report is estimating canola production at 14.3 million tonnes which is within expectations as better yields are allowing an upward revision from the August report.

Most bullish news is emanating from the palm oil market as el nino now seems to be impacting yields. Palm oil prices have increased significantly and most commentators are calling for further price rises.


Regards


Owen

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