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OSR Prices Ease On Stronger £ & Weaker Matif

Date Added: 08/12/2017

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

UK rapeseed prices have eased this week as matif futures have fallen and sterling strengthened. The threat of continued Australian imports to the EU - as its crop size is better than expected - and also a higher than expected Canadian canola production has caused the matif to trade at recent lows of €364 for February. Continued progress on Brexit negotiations has been positive for sterling, which is limiting our export opportunities. Crushers still have plenty of oilseed rape to buy in the new year, but there is a consensus rapeseed will need to be exported in large quantities in order to prevent a large carry out into next season.

In contrast to rapeseed, soyabean prices are holding relatively firm at around $10 per bushel as dry weather in Argentina continues to be a concern.

Regards,

Owen

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