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Quiet market enlivened by Royal Visit to Devizes

Date Added: 17/03/2017

By Owen Cligg, Trading Manager, United Oilseeds


HRH Prince Charles visited Devizes today 17/3/17     

UK oilseed rape was on the back foot this week as a lower Matif caused prices to drift.  Ex farm prices are now in a range of £340 to £347 ex farm, and Liverpool may not be in a position to take UK seed until May.

Crush margins remain poor, and we have seen some active matif futures selling in the new crop positions putting harvest values below £310.00 ex farm.

Ex farm offers remain thin suggesting old crop supplies are limited and growers are not yet ready to commit to new crop sales. Although soya supplies are set to be burdensome and the May CME future is now below $10 a bushel we see vegetable oil supplies becoming tight as stocks are still being drawn down. This in theory supports prices in the short to medium term.

 

Regards,

 

Owen

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