UK rapeseed prices have improved in the New Year, as Matif prices have jumped significantly. February Matif is currently over 420 euros, which equates to English rapeseed prices being over £340.00 ex farm. Imports into Erith and Liverpool are now diminishing, but most of what is required has probably already arrived.
Vegetable oil prices continue to firm, with palm oil at a 3-year high. Good demand for biodiesel is likely to underpin the vegetable oil complex. Soya prices have edged up, albeit not to the same extent as rapeseed. Since crush margins are being more driven by oil, it means soyameal and rapemeal prices show little signs of improvement.
New crop rapeseed prices are improving with £320.00 ex farm available in most areas of England. Reports continue of more losses on planted area, so we expect new crop prices to continue to rise as long as old crop levels remain at elevated levels.
Come to the Joint united Oilseeds / AHDB Agronomy Seminar on Thursday 30 January 2020, 1.00 pm to 4.45 pm at the Northampton Marriott. See Seminar Programme and Free Registration here