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UK rapeseed prices rise

Date Added: 06/10/2017

Trader's View: By Owen Cligg, Trading Manager

UK rapeseed prices are rebounding as a lower pound £1= €1.11  and a higher Matif futures market have caused prices to rise. October ex farm values are now in excess of £315.00 in England and when an export program begins, over £310.00 ex farm in Scotland.

The conundrum in the market is that there are still large quantities of Black Sea rapeseed looking for movement, causing crushers to be reluctant buyers. Recent higher crude oil prices seem to be supporting the biodiesel market in the short term. However the unknown ramifications of Argentinian biodiesel imports is potentially reducing rapeoil demand in the new year, which is causing buyers to sit on the side-lines.

Our view is that price rises should be seriously considered as selling opportunities, but the market is not likely to collapse in the short term as growers remain preoccupied with cultivations and plantings.

Owen Cligg

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