Rapeseed prices slip as Euro firms

By FWi staff

MATIF rapeseed prices lost Euro2-2.50 last week in quiet trading, as a result of volatile international markets and a firmer Euro against the US Dollar.

Old-crop trade is all but complete, while new-crop trading activity is not expected to pick up significantly until the arrival of the new crop.

Given the current market environment of erratic price swings, UK farmers have become more reserved sellers than in previous years.

In the USA, rain earlier in the week pushed soya prices lower, while the long-term forecast for dry weather during the summer months led to a price recovery mid-week.

However, the first USDA supply and demand outlook for 2000/1 was seen as bearish, taking soya futures markets lower last Friday.

Vegetable oil prices experienced the sharpest price losses, following weaker overseas oil markets.

Soya oil lost $15/t and palm oil was $8/t weaker.