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Matif rapeseed continues to fall

Date Added: 15/01/2016

By Owen Cligg, Trading Manager, United Oilseeds

Prices of matif rapeseed have continued to fall despite a relatively friendly USDA report on Tuesday. February matif rapeseed is now trading at €358  which represents a €9 drop from the previous week.

Reasons for the fall are somewhat confused, but is probably due to a combination of technical weakness, Australian pricing, poor crush margins and a stronger euro. On the positive side, prices in sterling are remaining resilient, as the £ continues to weaken on a low interest rate outlook and uncertainty over the outcome of any Brexit referendum.  Prices for February continue in a range of £250.00 ex for Scotland up to £260.00 ex for those farms close to Liverpool or Erith.

 End consumers continue their spot buying policy, though some are taking on some harvest cover. Prices for harvest at £250.00 ex farm may yet prove good value, though with the backdrop of lower plantings there may yet be some more upside.

 

Best regards,

 

Owen

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