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Market on defensive as rape oil difficult to sell

Date Added: 09/03/2018

Trader's View: By Owen Cligg, Trading manager, United Oilseeds

Rapeseed prices have drifted this week as Matif prices have come under pressure. Rapeseed values are now at or around £290 ex in England and up to a £10 discount in Scotland.

Crushers in England continue to be spot buyers and their demand may actually be increasing as firm rapemeal values help their crush margins. Unfortunately demand is not so good on the continent as some crushers are switching to soyabeans as demand for soyameal continues to be the main market driver. Palm oil prices are also under pressure as India has placed tariffs on imports which has caused prices to fall.

As regards new crop we are still waiting to see if the recent cold weather has caused any winter kill in Eastern Europe, although the market reacting as though there are no current problems. We may have to wait until  US plantings of corn and soya to see if any issues can cause an uplift in the market. With the reduction in Argentinian soya production any additional US losses should create a bullish scenario.


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