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Rapeseed prices improving

Date Added: 03/11/2017

TRADER'S VIEW: By Owen Cligg, Trading Manager, United Oilseeds

This week has seen an improvement in UK rapeseed prices, aided by currency and a rise in the Matif. Despite the rise in UK interest rates, Sterling has fallen as prospects for further rate rises are only likely to be small and protracted. Old crop OSR is valued at £315 to £320 ex farm, whilst new crop is valued at £305 ex farm for harvest.

Matif rapeseed prices are aided by better palm oil values, soyabeans are trading in the higher part of the recent range and crude oil prices are at two-year highs. In the face of Argentinian biodiesel imports, the market is proving resilient as internal demand is still good and crushers are able to make a margin in the spot position. The situation in the new year maybe different if imports of biodiesel increase, but at present the trend seems to be up.

Regards,

Owen

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