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Date Added: 14/10/2016

By Owen Cligg, Trading Manager, United Oilseeds

UK rapeseed prices continued to rise this week as the matif strengthened and the £ remained weak. Ex farm values are now above £330.00 in most areas and approaching £340 close to the crush. Tightness of rapeoil is supporting spot positions as biodiesel buyers reluctantly come to the market.

With an EU OSR crop reduced to 20 million tonnes or less and the UK crop between 1.7 and 1.8 million tonnes, crushers need to import both into Europe and the UK. Growers are holding off sales at present as the reduced crop means they have already committed a good percentage of their production.

The main worry for a reduction in prices is the continued reports of good soya yields in the US. However, a good export pace to China in particular means that burdensome stocks may not become apparent until the spring at the earliest.

 

Regards,

 

Owen

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