Oilseed rape prices came under downward pressure in the second half of this week.
This put August ex-farm values on Friday (31 July) around the regions at an average £327.70/t. This was down about £1/t on a week earlier but with some areas losing several pounds a tonne.
Values ranged from £320/t in north-east Scotland to £333/t in Oxon, Bucks and Northants and are very sensitive to currency movements, with the pound having gained slightly over the past few days.
There is uncertainty around when ADM’s Erith crushing plant will be back online, following a fire in mid June.
The company’s most recent statement to the trade said: “Over recent weeks there have been rumours circulating within the industry and farming community that ADM Erith will be closed indefinitely following the recent fire.
“While the damage is extensive, and at the time of writing we cannot confirm a reopening date, we can confirm that work is well under way to bring the plant back into operation.
“Over the past few weeks by harnessing ADM Europe’s extensive crushing facilities, logistics, and ability to react quickly, we have ensured that customers have received all their oil and meal requirements when they wanted them. This is a tremendous achievement and one that very few, if any,
of our competitors, could have achieved.
“Rest assured that during harvest and into the future we will continue as a group to be competitive for the rapeseed that you can buy on farm. ADM Erith will be back.”