Oilseed and pulse prices remain firm

Uncertainty in Europe and the Middle East continue to buoy oilseed rape prices, while pulse values remain steady. But with dry weather impacting yields and planning, prospects remain uncertain. 

With a large part of the UK oilseed rape harvest complete, markets remain positive due to continued trade disruption in the Middle East and Europe.

Ex-farm prices averaged £423/t on 29 July, down £13/t on the week.

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UK supply and demand has tightened due to several factors. Ukraine’s export capabilities have reduced due to attacks on shipping (it usually exports about 330,000t of rapeseed into Europe).

In addition, one of the biggest transit routes for rapeseed in Europe, the River Rhine, has seen water levels drop, preventing barges from transit.

“The markets have been going up since 1 January, with oilseed rape being the standout performer for growers this year,” said Nick Hobson, commodity trader at United Oilseeds.

“When harvest began in early July, prices went up to around £515/t with oil bonuses. But, in the past few days prices have fallen by around £25/t, as Trump’s position with Iran softened.

“However, the market is still quite high – especially compared to last year where prices were circa £450/t including bonuses.

“Looking ahead, it’s difficult to predict what will happen. It will depend on Australian and Canadian canola production and whether there’s a [global] surplus.”

Looking ahead to 2027 plantings, Copa-Cogeca predicts European rapeseed production will increase by 6.4%, while ADM expects UK pulse production to rise – if weather conditions allow.

Pulses

The weather has also been the biggest influence on the pulse market, and experts agree it remains too early to predict harvest 2026 results.

“For most of the calendar year, markets have been steady,” said Roger Vickers, chief executive at PGRO.

“Prices remain high in comparison to international competition, and domestic demand has been met for those who are committed to UK origin material.”

According to ADM, the bean market is loosely tracking the London wheat futures, offering higher prices on new crop – but this may change when harvest really gets going.