Prices easing as matif falls and £ strengthens

UK rapeseed prices have eased this week as a combination of lower matif and a stronger sterling has eroded values.

Ex farm rapeseed prices are back to £320 ex for September in England and £312.00 in Scotland. Soyabean prices are still on the defensive as yield prospects remain good in the US. However rapemeal values have found support from continental demand and the closure of Vivergo in Hull.
 
Trade remains quiet as growers concentrate on land work, but sentiment is easier as wheat prices are gradually eroding.
 
Future price direction is difficult to predict, but supply and demand would seem fairly well balanced at this stage.
 
Regards,
 
Owen