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Rapeseed market quiet with little trade

Date Added: 09/09/2016

UK rapeseed prices remain supported in a range of £300 to £315 ex farm as short covering continues mainly in the spot position. The UK crush seems more relaxed as they maintain imports are now viable and are looking at Baltic and Black Sea options in the short term and Australian from November onwards. Our opinion is that these imports need to happen, given the amount already exported at harvest and the lower UK crop with yields only averaging 3 tonnes/hectare.

Soya prices have improved this week as initial yield estimates in the US may yet prove optimistic. Rain is also potentially delaying harvest and hampering ship loading on what is already a large export program commitment.

Our view is that rape oil should maintain or gain in value due to restricted supply, which should maintain the bullish rapeseed story.

 

Regards,

 

Owen

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