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UK rapeseed prices supported

Date Added: 06/01/2017

By Owen Cligg, Trading Manager, United Oilseeds

UK rapeseed prices have seen an upward move this week, reaching £350.00 ex farm in many areas of England.  Prices were initially supported by an upward movement in matif, as buyers came to the market to cover rapeoil sales.  Although matif prices have since retraced, a weaker pound, £1 = €1.168 means that sterling values are holding up reasonably well.  Soya prices remain at around $10 a bushel, with the market divided on whether adverse conditions in Argentina will affect plantings and yields.

In summary, we expect vegetable oil prices to be continued to be supported as tight stocks mean buyers have to pay up to get spot supplies. However, this makes forward sales difficult when trying to justify a carry in the market. Therefore we predict the spot market remains supported.

Regards,

 

Owen

United Oilseeds Marketing Ltd

Tel           01380 729200

DD           01380 732313

 

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