Jonathan Lane, Gleadell’s trading director, comments on the OSR market

The European rapeseed physical market has firmed slightly as we continue to see a lack of volume sellers. The February MATIF futures contract has also traded its highest level since late October but is currently unable to break conclusively from its near three-month trading range. The fundamental picture remains one of a plentiful European and global supply.

Crush margins are OK in the spot positions, but the market could remain tight through December and January. Australian seed should begin to arrive in Europe during February and March.  At present it’s hard to get bullish about rapeseed but prices do continue to slowly ease higher, in the nearby positions, we feel the market could remain supported in the short term before easing towards the end of the season.