Rapeseed slips with weaker Chicago market

By FWi staff

UK RAPESEED values have failed to maintain their recovery and slipped back slightly over the week on the back of a weaker Chicago market.

But with growers still holding on to seed in the hope of better prices the downturn seen in the UK was less severe than on Chicago markets, noted the Home-Grown Cereals Authority.

Ex farm spot values have eased to about £123/t while April deliveries also slipped falling £2 to £133/t.

Ex farm harvest Values dropped £2 over the week at £118/t. But as values weakened further in Chicago UK prices slipped again at the start of this week falling £3 at £115/t. This is a fall of £5/t from a week ago.

With only three months of the season left, growers have little time to market their old crop, warned a spokesman from the HGCA.

“This is particularly true since the annual shut down of crushing plants starts about the end of June or early July. The timing will depend on the crush margin, which has improved slightly in the past week,” he said.

But Peter Daubly of BDR Agriculture doesnt believe that there is much seed left on farm. “Six weeks ago there was but now theres barely any more than usual.

“And some producers are talking about holding it for another year,” he added.