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Rapeseed prices holding steady

Date Added: 10/11/2017

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

UK rapeseed prices have maintained last week’s gain and are still valued at £320.00 ex farm in most areas of England. Scottish boats are still delayed but we are hoping the situation becomes more liquid in the new year as existing business will need to be executed. Matif prices peaked on Wednesday at €386.00 for February but dropped back to €382.00, when the USDA report proved to be bearish on higher corn yields than expected.

Whether prices can improve again will depend on the biodiesel demand which should remain good until December as the current mandates need to be fulfilled.

One view on currency is that levels are likely to be rangebound between
£1= €1.10 - €1.15 the idea being that most of the uncertainty surrounding Brexit is already factored in to the market. This potentially takes away any gain that would have occurred if sterling reached parity with the euro.

Regards,

Owen

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