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UK rapeseed prices continue to edge up

Date Added: 13/01/2017

By Owen Cligg, Trading Manager, United Oilseeds

Weaker sterling and a steady matif futures market have both added value to UK rapeseed values this week. Ex farm prices are generally £350 to £355 ex farm for February movement. Sterling is currently £1=1.147 euros as Teresa May hints at withdrawal from the single market, whilst matif has found support from a bullish USDA report which edged back soya supply from previous estimates. UK rapeseed crushers are reluctant buyers and looking to rely on imports and Scottish vessels for their February requirements.

New crop prices are also higher with harvest rapeseed well bid at £320.00 ex in England. Our opinion is that prices remain supported as product values for rapeoil and rapemeal are edging higher.

 

Regards,

 

Owen

Tel           01380 729200

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