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

The US soybean futures market has weakened throughout the week as plantings continue in the US with no problems at present. New crop Chicago futures are now trading at contract lows.

The MATIF rapeseed futures contract has ticked higher throughout the week, largely helped by the weakness in the euro. Across Europe we see a lack of farmer selling on both old and new crop and the tightness in the old crop physical market seems at odds with European supply and demand analysis. At present it remains difficult to make a bullish story for rapeseed without a problem somewhere in the world.

In the UK the physical market is slow for new crop with a lack of demand coupled with a lack of farmer selling.