South American Weather Causing OSR Market to Rise
Rapeseed prices have been buoyant of late as the soya market has risen on the back of dry weather in South America. Matif rapeseed is currently at around 430 euros for February '21, which equates to an ex farm price of about £380 ex farm if close to a crush.
Prices should be supported in the near term as Canadian canola is currently uncompetitive into Europe. Prices should also be supported for harvest as EU rapeseed looks good value to other sources bearing in mind the new Canadian crop will not be available until the autumn and there is a reduced Ukrainian crop.
Harvest values are in wide range from £330 ex farm in Scotland to £345 ex in areas of England.
The oat market is still in the doldrums despite rising feed grains prices. A Brexit deal helps export interest, but we need to wait for markets to develop. Our pools offer a marketing option for those looking to commit to new crop contracts.
Some feed compounder demand is appearing for the summer as soya prices have risen. The market however is thinly traded with only limited demand in the spot position. New crop prices of £200 ex farm are achievable, which maybe a good starting point for new crop sales.
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