Strong Sterling puts OSR prices on defensive

Posted: 13 Apr
Trader's View: By Owen Cligg, Trading Manager, United Oilseeds

This week has seen an erosion of UK rapeseed prices as the pound has strengthened versus the euro. An exchange rate of £1 = €1.156 euros is a recent high and caused ex farm prices to edge back to £285.00 ex on a standard haul to Liverpool or Erith, and to £275.00 ex farm in Scotland where export trade is still proving difficult.
 
Rapemeal prices have been appreciating as the Argentinian soya crop continues to be downgraded. Latest estimates are as low as 37 million tonnes. However, rapeoil prices are still under pressure as biodiesel demand for rapeoil remains poor.
 
Regards,
 
Owen

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