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Matif rapeseed prices well supported

Date Added: 02/12/2016

By Owen Cligg, Trading Manager, United Oilseeds

Matif oilseedrape prices are currently over €400 per tonne as firm vegetable oil prices and improving crude oil prices provide support. However part of this rise in prices is mitigated by a stronger sterling, £1 = €1.18 euros, so ex farm values continue in a range of £335 to £345 per tonne for December movement.

Vegetable oil prices are stronger following increases in palm oil and soyoil because palm oil stocks remain lower than expected and soyoil has benefitted from an increase in the US biofuel mandate.

Imports in to the EU are gathering pace from Australia, but is unknown when anything may turn up to Liverpool. Crush margins are only sensible in the spot positions so this is making forward selling of rapeseed difficult. However, the supply and demand will be tight for both the UK and EU, so providing vegetable oil prices stay high rapeseed prices should have limited downside.

 

Regards,

 

Owen

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