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Rapeseed prices holding up well

Date Added: 04/08/2017

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

UK rapeseed prices are benefitting from weaker sterling which this week is now approaching £1 = €1.10. Ex farm harvest prices are discounted to £305.00 ex farm, as good yields and an impending wheat harvest is encouraging spot sales.  Prices for November are showing a good carry at between £315 and 320 ex farm.  We are still encouraged by UK yields and are working on an average of 3.8 tonnes per hectare. Despite the poor weather, good yields are being maintained as harvest progresses north.

Yields in France and the Black Sea region seem to have done better than expected, whilst Germany and Poland could still face problems as wet weather is causing harvest to stutter and may yet impact on their production.  

Matif rapeseed prices have fallen back this week, following a downturn in soya prices as weather in the US has become more benign. However, falls in the Matif have not followed at the same rate especially when taking in to account the stronger euro currency.  The crude oil market seems to be supported and this may be giving support to biodiesel which, in conjunction with a delayed decision on a decrease in biodiesel import duties, may be encouraging biodiesel purchases.

We still have opportunities for HEAR contracts for 2018 harvest. Varieties available are Palmedor and Ergo. Ergo especially is comparable to many double “00” varieties. Seed orders need to be in soon as Ergo has limited availability.

Please click here for contract details. Call 01380 729 200 for seed.

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