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Rapeseed prices rise

Date Added: 25/08/2017

Trader's View: By Owen Cligg, Trading Manager, United Oilseeds

A mixture of weaker sterling and an uplift in the Matif has caused UK rape prices to rise. September prices are now valued at £320 ex farm plus, and November has hit £330 ex farm in areas close to the crush.

Despite the protestations from crushers that the barn door closing would not cause prices to rise, there do not seem to be many offers of new rapeseed in the market as growers concentrate on finishing wheat harvest and cultivations.

CME Soy oil futures have found support on the likely implementation of US biodiesel tariffs on imports from Argentina and Indonesia. Whilst this is price positive for US soyabeans and Canadian rapeoil imports, Argentinian and Indonesian vegetable oils may need to reduce in price to find new markets. This in turn is not necessarily price positive for rapeoil and rapeseed in the long term.

Regards,

 

Owen

 

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