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Rapeseed prices still appreciating

Date Added: 19/08/2016

By Owen Cligg, Trading Manager, United Oilseeds

Rapeseed prices continue to move upward in the UK as a combination of weaker sterling and a lower crop size have probably contributed in equal measure. Harvest prices are well bid at £300 ex farm in most areas, whilst November has a range of £310 to £318 ex farm.

Talk of good potential regarding soya yields in the US was reinforced by the latest USDA report, but this is countered by continual good export demand as quantities available in South America remain tight.

We are of the opinion rapeseed gets supported by a continuing tight balance sheet for vegetable oils, and any unforeseen problems in soya supply will add fuel to an already bullish market.

 

Regards,

 

Owen

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