Rapeseed prices stable while futures firm
By FWi staff
OILSEED rape values have remained relatively stable over the week with a firmer Euro and Chicago futures market helping to support prices.
Values rose in the week on the back of firmer Chicago soya futures, encouraging some producers to sell.
Its interesting how a rally in the market can has caused so much interest, said a spokesman from Glencore Grain. “12 months ago it would hardly have got a mention.”
The strengthening of the Euro helped support prices towards the end of the week, despite the limited trading.
Ex-farm spot prices firmed slightly to about £107.14/t, while delivered prices also rose to £115-£117/t.
Rapeseed buying on EU and UK markets is expected to slow pre-Christmas, since most domestic consumers are reported well-covered, noted the Home-Grown Cereals Authority in its weekly MI Oilseeds.
“With Australian canola entering the markets in the new year, increased competition for EU rapeseed can be expected.”