UK oilseed prices firm as harvest disappoints

By FWi staff

DOMESTIC oilseed rape prices have climbed following disappointing yields from this years harvest and a lack of farmer selling.

Ex-farm rape prices increased by £3 during the week to £149/ tonne after news that yields in some regions were down 10-15% on last year.

Some farmers appear prepared to store rape in the hope that prices will rise further. But the medium-term trend in global oilseed prices appears to be down.

The US is set for a bumper soya harvest with only a short time until the end of the critical pod-setting period, reports the Home-Grown Cereals Authority.

Although many UK farmers are unlikely to be under any pressure to sell until the main wheat harvest starts in about two weeks, HGCA analysts say it remains to be seen how much longer current price levels will be maintained.