Oilseed prices continue to slide

Chicago soyabean prices remained under the influence of the weather market, with rain pushing prices lower for most of last week.

The largest price falls were again seen for soya oil, losing a further $12/t on slow exports and weaker overseas oil markets.

In contrast, the soyameal market was firmer last week on reports of soyameal being purchased by China.

MATIF rapeseed followed Chicago lower. Price losses were emphasised by the weaker US Dollar against the Euro, making European supplies less competitive.

MATIF rapeseed lost 5 Euro. Following the current market sentiment and in part due to the weaker US dollar against the pound, UK new crop delivered prices were 1 to 2 weaker.

UK GM rapeseed update
Farmers are awaiting the EUs final decision on area aid for their GM crops.

Aid is normally paid if the crop is maintained until flowering or until the 30 June.

Advanta Seeds UK is going to compensate UK farmers for commercial losses.