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Matif prices trade down during the week

Date Added: 23/06/2017

By Owen Cligg, Trading Manager, United Oilseeds


Despite starting the week on a positive note as markets became spooked due weather issues around the world, the matif rapeseed futures have fallen back curtailing recent values. Old crop rapeseed has fallen to £320.00 ex farm whilst harvest is now £290 to £295 ex farm.
 
The reasons for the fall in matif can be partly attributed to the following: 

- A fall in the soyabean price with levels touching the psychological $9.00 a bushel the July Chicago position.
 
- A fall in crude oil prices, which have fallen 20% from their recent highs.
 
- Start of rapeseed harvest in Romania, Bulgaria and Ukraine providing some hedge pressure as farmers price up harvest sales.
 
However many potential issues still exist, with dryness in Western Australia and poor crop conditions in Canada being two of the factors that could yet prove bullish for rapeseed prices.


Regards

Owen

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