Old crop and new crop rapeseed prices converging

Posted: 11 May
Trader's View: By Owen Cligg, Trading Manager

 

UK rapeseed prices have risen recently, helped by firmer matif and a weaker currency.  Ex farm values are touching £290 for old crop in England, but still struggling to find export interest in Scotland.

Meanwhile harvest prices are trading at around £285 ex farm and would seem supported on weather concerns. The cold, wet spring in Northern Europe means many rapeseed crops look less than ideal. Also, the potential for hot dry weather throughout Europe and its impact on shallow rooted crops could yet be significant.
 
Vegetable oil prices would seem to be supported now by recent rallies in crude oil. However, soya bean prices have been falling on a stronger dollar, good planting progress in the US, and higher production figures in Brazil.  Argentina still remains a problem, as harvest is now being delayed by rain and farmers are retaining stocks in view of the rampaging inflation there.
 
Regards,
 
Owen

Come and see us at Cereals 2018 for seed solutions and expert crop marketing advice, Stand number 424, 13-14th June, Chrishall Grange, Duxford
 

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