EU oilseed prices controlled by weather

By FWi staff

THE weather, rather than international vegetable oil prices, is currently dictating price movements on EU rapeseed markets.

MATIF rapeseed futures gained Euro7/t during the week, while UK delivered values were 2.50-4.50/t higher.

Although a firmer US Dollar against the Euro and the Pound helped to boost prices, concern for the French rapeseed crop is currently the main supporting factor in the market.

Harvest delay, diseases like sclerotinia and crop loss in some areas due to rain and storms have raised fears that this years French rapeseed crop could be even lower than expected.

With only a small percentage of the UK crop swathed, little is known about yields and quality so far.

The next two weeks are seen as crucial for the UK crop.

On the other side of the globe, weather has turned favourable for the development of a possible record US soyabean crop, pushing futures lower, while Malyasian palm oil futures have recovered from last weeks lows.

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