By FWi staff

IMPROVED US crop weather conditions resulted in large fund selling activity, pushing Chicago soya futures lower last week.

The largest price drop, however, was seen for edible oil prices, with palm oil reaching new price lows.

MATIF rapeseed prices fell by Euro3-4 and UK delivered values fell by 1.50-1.75.

Markets are watching the progress of the French rapeseed harvest, which has been affected by showers. Meanwhile the UK crop is reported to be developing well.

  • UK farmers who have accidentally planted GM spring rapeseed this year have been offered compensation from Advanta Seeds UK.

    Farmers can receive 337/ha, whilst those in the north of England and Scotland can receive 370/ha for their destroyed crops.

    Using last years average spring rapeseed yield of 2.1 tonnes, this would give a payment of 160/t. Traces of GM material of the Hyola variety have been found on 4,700 ha, affecting 600 farms in the UK.