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Volatility continues to whiplash prices

Date Added: 29/01/2016

By Owen Cligg, Trading Manager, United Oilseeds

Prices for UK rapeseed have been pulled both upwards and downwards this week as matif and currency have both shown an increasing volatility. February matif expired today but prices recovered from last week's lows. Sterling has also traded in a wide range against the euro from £1.305 to over £1.32 which has meant the £260 ex farm for England has only been available briefly.

There is a new, developing export interest to Germany,which is also supporting prices as UK crushers seem reluctant to bid the market up.

Whilst prices of wheat remain depressed, at least rapeseed represents better value and this has encouraged some farmer selling especially those looking for cash. There could still be room on the upside for rape as new crop uncertainties support, as well as vegetable oil prices looking increasingly undervalued.

 

Owen

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