OSR being harvested© Tim Scrivener

Oilseed rape prices rose sharply in the week to 12 October, up £10.90/t to average £329.50/t ex-farm for spot movement.

This was due to a combination of further falls in sterling value, increased crude oil prices and support for palm and soya oil.

Soya oil prices had been pushed up by the strength of crude oil, said a report by market analyst Agritel.

In contrast, soya bean values had been pressured by expectations that the US Department of Agriculture would increase its estimate of US production in its latest report.

However, UK markets opted to follow the oil market higher, said traders.

It was also likely that the UK could face a rapeseed deficit this season, with UK prices having risen above European prices.

See also: All the latest news for oilseed rape growers

On top of the UK rapeseed area falling for the fourth consecutive year, the average yield dropped to 3.0-3.2t/ha compared with 3.9t/ha last year, said a report by AHDB Cereals and Oilseeds.

As a result, UK production was estimated between 1.8m tonnes and 1.9m tonnes, down from 2.5m tonnes last year.

Growing conditions in France were also supporting prices; with falling temperatures and little precipitation, acreage was expected to decline for the next harvest compared with this year.