UK rapeseed slides as USA and Europe gain

By FWi staff

UK rapeseed values dropped slightly over the past week, despite firmer soya markets in the USA and slight gains in Europe.

At home, the strengthening Pound failed to maintain values and spot deliveries to Liverpool fell 50p to 127.50/t.

Prices remained unchanged in East Anglia at 125/t, with Erith at 127/t.

Harvest values were also lower, dropping 25p to 115.50/t in East Anglia, 118/t at Liverpool and 117.50/t for deliveries into Erith.

But in Germany, rapeseed crush demand, amid dwindling supplies and reports about a slight fall in EU rapeoil stocks, lent additional price support, said the Home Grown Cereals Authority in its weekly MI report.

“Matif improved by 3/t, aided by a strong US dollar against the Euro.”

In the USA, forecasts of dry weather and concern over spring planting conditions helped soya markets reach new highs.

May futures for Chicago soya oil have risen $44 since the start of March to $394.

• Chicago Board of Trade soya prices