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Matif prices still rising

Date Added: 16/12/2016

By Owen Cligg, Trading Manager, United Oilseeds

The oilseed rape market has firmed in price, led by an increase of Matif prices to a recent high of €419.50.  Although the £ remains at the high end of its recent range,  £1 = €1.192 , sterling prices are now in a range of £340 to £350 ex farm depending on area of collection.

The recent rally in crude oil prices has helped biodiesel margins, whilst the lower euro versus the $ has boosted matif prices. Soybean prices are remaining in a range of $10 to $10.50 despite on paper a comfortable stock scenario. Chinese demand remains robust.

New crop oilseed rape prices are also supported, albeit at a £20 to £30 discount to old crop. Lower plantings in France estimated at 5% down should be friendly to prices, as is the lower UK area, still estimated at around 8% down.

 

Regards,

 

Owen

 

Owen Cligg

 

Trading Manager,

United Oilseeds Marketing Ltd

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