By FWi staff
DOMESTIC rapeseed prices rose by as much as £5/tonne in some counties last week, inspired by export demands for US soya and a lack of farmer selling.
Ex-farm supplies are currently worth about £150/tonne and values are expected to rise further.
“The liquidity of the commodity draws to a close as harvest finishes, and prices rise,” said oil seed analyst Christian Martin of traders Lingrain.
But Mr Martin added that the market is unlikely to see a rally, as happened last year.
European rapeseed production is estimated to be up this year at 9.4 million tonnes, compared with 8.6m tonnes last year.
Despite this large potential crop, Matif rapeseed futures in France rose by over £2 during the week amid brisk third-country trade.
US soyabean prices fell as good weather conditions bring the bumper crop nearer maturity. Meal and oil prices followed suit.