BEARISH sentiments expressed by the US Department of Agriculture did not dampen the oilseed market, as prices continued to rise last week.
Oil prices also sharpened as Chicago soya oil futures reached their highest since October.
US soya oil export and palm oil markets have been busy helping bounce EU markets. MATIF futures were up by 5/t.
UK markets also gained again, with ex-farm rapeseed prices up 1.50-2/t higher, reaching new post-January highs.
UK rapeseed crop update
LAST autumns poor weather affected plantings more in the north than other areas of the UK.
Total crop failures have occurred in flood plains and on heavy soils, while other areas have suffered bare patches and lower plant populations.
Disease is a risk – blackgrass, phoma and light leaf spot are reportedly widespread.
A warm, bright summer may boost yields.
International: Soyabean crop may be record
THIS years soyabean crop could hit record levels of 169.58 million tonnes.
Extra US soyabean stocks and higher production from Argentina are the main reasons.
Argentinas soya yields were expected to lift by an additional 1m tonnes.
Taken from HGCA weekly MI Oilseeds|
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