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OSR price up 5/t

By FWi staff

UK rapeseed prices gained a further 5/t over the week, taking support from tight domestic supplies and MAFFs lower-than-expected winter area estimate.

The Ministrys estimated figures released last week confirmed earlier reports that plantings are down 39% on 1998 firming new crop values.

Delivered prices were also higher despite an increase in ex farm trading, noted the Home-Grown Cereals Authority in its weekly MI report.

March deliveries to Liverpool rose 5 to 125/t, with Erith at 124/t. April to June deliveries were also higher, with Erith at 126/t, East Anglia at 124/t and Liverpool at 127/t.

Rape oil values have followed seed prices, recovering from their previous lows, said a spokeswoman for the HGCA.

“But unlike rapeseed, whose stocks have been revised lower, rape oil supplies remain well above last years level. This could limit seed prices in the near term.”

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OSR price up 5/t

By FWi staff

DOMESTIC rapeseed prices rose by as much as £5/tonne in some counties last week, inspired by export demands for US soya and a lack of farmer selling.

Ex-farm supplies are currently worth about £150/tonne and values are expected to rise further.

“The liquidity of the commodity draws to a close as harvest finishes, and prices rise,” said oil seed analyst Christian Martin of traders Lingrain.

But Mr Martin added that the market is unlikely to see a rally, as happened last year.

European rapeseed production is estimated to be up this year at 9.4 million tonnes, compared with 8.6m tonnes last year.

Despite this large potential crop, Matif rapeseed futures in France rose by over £2 during the week amid brisk third-country trade.

US soyabean prices fell as good weather conditions bring the bumper crop nearer maturity. Meal and oil prices followed suit.

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