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

We have seen US farmer selling pressuring soybean prices in the US and short-term weather forecasts continue to point to favourable conditions in the key bean and corn growing areas.

The MATIF rapeseed contract and its physical derivatives of oil & meal have continued to come under pressure as the harvest in Europe gets under way. We are also hearing early reports of good oil content and big crops from the Black Sea regions. 

The UK domestic market remains reasonably quiet with farmers still reluctant to sell. We feel farmers that require cash flow and harvest movement may be forced to sell and could therefore face potentially lower prices as harvest pressure erodes prices.