Markets firming on new crop
Old crop rapeseed is becoming a neglected affair as most consumers are now covered and old crop ex farm parcels are few and far between.
The focus has now switched to new crop which continues to be supported by lower than expected US corn and soya plantings. The consensus is more acres need to be bought by paying higher prices, but a forecast cold spell is doing little to encourage US farmers into the fields.
In the EU, worries on French rapeseed plantings (which are potentially 11% down) and frost damage have caused further rises on Matif prices. A level of 463 euros for November means £400 ex is available in many areas for the autumn onwards.
Old crop oats continue to be a struggle to move. However, recent cold and dry suggests spring oats may struggle for quality this harvest and,with increased demand apparent, milling oat prices should again become more related to other cereals.
As with oats, old crop beans are struggling to find buyers. However, given the nature of the firm soya market going forward, we believe beans should find demand in the future.
The weather is improving and if you would like information about our excellent Spring OSR and Countryside Stewardship options, please contact your local United Oilseeds Area Manager or call us on 01380 729 200