By FWi staff
OILSEED rape values have continued to firm this week, reaching their highest levels since the collapse of the market in February.
In some regions prices neared £130/t as demand increased on the back of firmer international oilseed prices.
Merchants say that farm selling is on the increase as producers with seed still in store become anxious to move stocks before the crushers close in late June/early July.
However, there is some trade concern that the supply and demand balance is tighter than first thought, noted the Home-Grown Cereals Authority.
Ex-farm UK oilseed prices climbed to about £125.60/t over the week, with top prices at almost £130/t. May deliveries are also up, at £137/t, although harvest values remain stable at £116/t ex farm.
Stronger Chicago values boosted the European market, with the US Dollar gaining strength from a weaker Euro.
However, trade sources reported a lack of selling activity on European rapeseed markets, said an HGCA spokesman.
“This is despite concern that season carry-out stocks could be well above earlier expectations,” he added.