Crop concern lifts EU prices

By Tamarind Davidson

LOWER yields and quality concern about this years EU rapeseed crop have helped to lift prices in recent weeks.

MATIF August rapeseed futures have risen 10 Euros (6.20) since early June, while UK delivered Erith prices have gained 4.50 over the same period.

In contrast, Chicago soyabean futures have lost more than $20 (13.2) since early June.

Favourable growing conditions in the US Midwest promises a bumper US soyabean crop this year.

However, with the West and East European rapeseed balance expected to be tighter this season, a larger US soyabean production is seen as necessary to fulfill the gap from lower global 2000 softoil output.