Rapeseed Prices Up Again
Oilseed rape prices are up again this week as the May 21 Matif future is close to 520 euros. With little ex farm rapeseed left to trade, prices remain firm but the buying interest is beginning to wane. The main demand seems to be in continental Europe where the arrival of Australian boats are anxiously anticipated.
New crop rapeseed prices are also up, but not to the same extent and are held back by a stronger sterling, £1=1.162 euros. Levels of around £360/tonne are achievable in England, but whilst Canadian old crop prices remain high, European harvest prices should be supported. HOLL and HEAR contracts are both available for harvest 2022 which offer significant premiums on 00 varieties.
The main focus is on compound demand for animal feed, which will need to be supported throughout the summer. Spot bids are therefore difficult to find, but prices of around £230.00 ex farm are achievable for May/June. New crop is quiet, but prices over £200 ex farm remain.
Oat millers indicate they have cover until June, but some feed demand is still apparent at lower prices. Whether new crop plantings will meet the current estimates of unchanged on last season remain to be seen.
If you missed me speaking at the joint United Oilseeds/AHDB OSR Webinar last Friday, you can see a recording of all the presentations including my Market Update here