Rapeseed markets remain firm

By FWi staff

INTERNATIONAL oilseed markets have remained under pressure from an advancing US soyabean crop. However, firmer oil and meal markets limited price falls.

MATIF rapeseed futures gained 7 last week. This was again mainly in response to concern about this years rapeseed crop in the EU and Eastern Europe.

Hot and dry weather conditions have curbed yield potential in neighbouring Eastern European countries and have prompted an earlier start of the French rapeseed harvest.

UK delivered prices were 2 higher, following MATIF and aided by a weaker Pound against the US Dollar.

At these higher values, more material was reportedly offered, although the volumes traded remained limited.

The UK linseed market has been uneventful in past weeks.

However, prices have firmed recently on realisation that this years crop will be well below last years 290,000 tonnes.

Trade estimates put this years linseed area at a low of 40,000-55,000 ha, in response to unattractive prices and lower area aid.