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Volatile currency adds value to UK rapeseed prices

Date Added: 07/10/2016

By Owen Cligg, Trading Manager, United Oilseeds

UK rapeseed prices have risen on a weaker pound, currently £1= €1.111.  Currency markets have become increasingly volatile on continuing uncertainty on the outcome of Brexit and wild fluctuations have occurred on overnight trading. This may have been exacerbated by computer trading, which has just made the markets more jittery.

Ex farm values of oilseed rape are now generally available at over £325 ex farm for old crop and over £300 ex farm is available for next harvest.

 Continued volatility in the markets is now likely as the combination of a big soya crop, small rapeseed crop and uncertainty on currency will no doubt make a heady mix.

 

Regards,

 

Owen

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