OSR price follows soyabeans downward
By FWi staff
UK rapeseed prices continued their recent downward trend, falling again last week as US soyabean values dropped to the lowest level in almost eight weeks.
Soya bean values fell on the back of increased fund selling activity, slow exports and good US harvest activity.
An improved South American crop outlook and added farmer selling put further pressure on the market.
Soya oil markets also remained depressed following the continued weakness in competing overseas vegetable oil markets, noted the Home-Grown cereals Authority in its weekly MI report.
UK ex-farm spot prices were down over £2 to about £106.44/t, while delivered values fell £3 to £115/t.
January to March deliveries to Liverpool and Erith were also down at £117.50/t.
Domestic markets were reported quiet, with some farm selling in regions where drilling has finished, noted the HGCA.