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Rapeseed values holding as currency falls

Date Added: 08/01/2016

By Owen Cligg, Trading Manager, United Oilseeds

 UK rapeseed prices are valued in a wide range between £250 and £260 ex farm depending on area. Matif prices have fallen as US soya prices have come under pressure. However, a weaker £, currently at
£1 = €1.335 is supporting sterling prices.

 Commentators seem to be split between the bearish scenario of increased soya availability and the bullish factors of decreased palm oil supplies. Increased soya supplies, as Brazil starts harvest and Argentina continues to release old crop supplies, are potentially unwelcome bearing in mind Chinese economic woes. The decreased palm oil supplies, however, should become a reality now that previous dry weather is affecting current palm oil yields.

 Consumers are continuing to buy spot, so we feel prices should be supported in the short term.

 

Regards,

 

Owen

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