Jonathan Lane, Gleadell’s Trading Manager, comments on the OSR market

The domestic rapeseed physical market remains fairly quiet with small parcels of old crop trading into delivered homes. The new crop market is very quiet; farmers remain reluctant to sell, with lower prices and crop concerns being the reasons cited. The European physical market remains equally quiet but we expect to see an increase in farmer selling in the next few weeks.

The MATIF rapeseed contract continues to come under pressure with a lack of bullish news in the market, new crop crush margins remain poor and the oil sector remains weak with an abundance of oil around.  

The old crop soybean meal market remains very firm with a lack of meal available.

This week’s USDA report left soybean figures unchanged. The market continues to monitor US plantings, where bean plantings are now said to be 71% complete against an 81% average. There has been some drier weather over the past week so plantings should be progressing in key areas. USDA will issue quarterly stocks figures and the first farmer-based planting surveys at the end of the month.