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Rapeseed prices fall following soyabeans

Date Added: 17/06/2016

By Owen Cligg, Trading Manger, United Oilseeds

 Rapeseed prices have fallen this week as soya markets decided they had run out of buying interest and this caused a certain amount of technical selling, reducing values accordingly. There was a bit more rain than expected in the US weather forecast which helped diminish the treat of la nina induced heat and dryness. Also funds have lessened their long position, but fundamentally demand is still good and expect prices to go up again.

Rapeseed values for both old crop and harvest on an ex farm basis are now £265 to £270 ex farm. The market is thinly traded as uncertainity over Brexit is causing buyers and sellers to move to the sidelines. A vote out could cause sterling to fall which would improve £ values.

 

Regards,

 

Owen

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