Jonathan Lane, trading manager at Gleadell's, explains what the higher than expected yields being recorded this harvest means for the rapeseed market.

Rapeseed harvest is well underway and we are seeing good yields across the UK.  Yields from Northumberland to the south coast are certainly higher than trend yield and we could now even see a crop in excess of 2.5mln/t.

At the moment, the market has a relatively poor carry to November as there has been good nearby demand. But, after a flurry of business in the last two days, the UK crushers are getting covered and the export buyers are also becoming scarce.

If farmers keep selling at the present rate we will very quickly exhaust all the July/August demand. In fact, we are getting there now.  The harvest market will really come under pressure in order to force a carry back into the market.  Given the current yields these prices look fantastic and those who need to sell are advised to book something sooner rather than later.