Oilseed rape fails to avoid the drop

Monday, 16 March, 1998

By FWi staff

UK oilseed rape prices fell again last week as Sterling soared to its highest level this year.

Ex-farm rape dropped £3 to £180/ tonne as the Pound ended Friday at DM3.04 against the German Mark.

Fears that wet weather would delay the Argentinian and Brazilian soyabean harvest had initially steadied the market at the beginning of the week. But UK rape prices began to tumble after the USDA upped its estimate of the US harvest on Thursday.

Traders continue to report little interest in either old-crop or new-crop supplies. New-crop rape also fell by £3 and is now trading at £146/ tonne (July) and £154 (November).