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Weekly Trader's View

Date Added: 22/09/2017

Technical strength in market is not being translated into physical prices

By Owen Cligg, Trading Manager, United Oilseeds

Prices on the Matif rapeseed and Chicago soybean indexes have been rising this week, but unfortunately this is not being translated in to firmer ex farm oilseed rape prices.

The USDA has apparently forecast Chinese soymeal demand to increase 7.4% this annum.  UK crushers seem well covered in the short term and are unable to make good enough oil and meal sales in order to improve crush margins to allow them to raise prices. Ex farm prices in England are around £310.00 ex farm, whilst Scotland is a little over £300.00 ex farm ahead of an export programme that commences from November onwards.
The market is reported to be very quiet with little ex farm activity and buyers reticent to come to market.

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