Surprise rise for oilseed prices

By FWi staff

OILSEED rape values have started the year slightly higher, despite a slow start to trading and producers continuing reluctance to sell in the hope of higher prices.

Values rose on the back of gains on the Chicago soya futures markets early in the week.

This followed ongoing concern over dryness and reports about US soya oil export business, noted the Home-Grown Cereals Authority in its weekly report.

Delivered rapeseed rose about 2/t over the festive period, with deliveries to Liverpool at 114.50/t and Erith at 113.50/t.

Futures also climbed, with April to June values now between 115-116.50/t. UK ex-farm rapeseed prices are also up by 2 at about 103.32/t.

Price increases have been limited as a result of the small volumes traded, said a spokesman from the HGCA.

  • The UK export campaign for linseed has now reached over 100,000 tonnes in he first half of the 1999/2000 period. With the relatively huge crop of 290,000t harvested in 1999, it is hoped some of the pressure on prices will have been relieved.

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