By FWi staff
OILSEED rape values appear to be making an attempt to claw back, resulting in a marginal recovery on the prices seen at the start of this week.
Ex farm spot prices had climbed to £115/t today (Wednesday) on the back of an increase in demand, stimulated by the lowest prices seen since the 1992/93 season.
But new season quotes are little better at just £105/t.
Farmers with old crop still in store must consider selling some now, because the fundamentals havent changed, said one trader.
This recent increase is unlikely to be the start of any big increase, said Cargills Ian Wallis. “Its difficult to see a sustained recovery.”
Farmers selling in the coming season should watch the price movements closely and make the most of any short term rallies, advises Mr Wallis. “There will be selling opportunities.”